It is now expecting a ruling in a lawsuit filed against hydropower producer Hidroelectrica, claiming more than one billion lei (over EUR224 million) damages. The ruling should come on April 6.
It lost all the suits filed against state-owned Hidroelectrica, now insolvent, so far. If it loses again, this might be the end of one of the most controversial stories in the Romanian energy sector after the fall of the communist regime.
“As far as I know, Energy Holding dropped all its clients at the end of last year, on November 1 or December 1. They explained they were leaving power retail, they were getting into something else. What exactly that is no one knows, but Energy Holding is like an empty shell now,” market sources say.
Energy Holding officials were not willing to comment on the information.
“I don’t know where you got my number. I cannot give you an answer. Good-bye,” said Codrut Manea, the man in charge of Energy Holding.
Energy Holding had only 2% market share in late 2015 compared with the 20% in 2006. Its revenue stood at EUR46 million in 2014, compared with the EUR320 million peak of 2007-2008.
(English version by Loredana Fratila-Cristescu)