The deals harmed Hidroelectrica and caused it to enter insolvency in June 2012.
“We are claiming several hundred million lei from each of them. We sued them before June 27 (when the Bucharest Court decided Hidroelectrica may exit insolvency, e.n.),” Remus Borza, the president of the company’s Supervisory Board, told Mediafax Wednesday.
Borza owns firm Euro Insol, which was Hidroelectrica’s court-appointed administrator from June 2012 until June 2013.
According to a report by Euro Insol, Hidroelectrica lost EUR1.2 billion between 2006 and 2012 by signing bilateral energy deals at below-market prices.
Alpiq Romenergie and Alpiq Romindustries, part of Swiss group Alpiq, caused the company to lose 850 million lei (EUR193 million) and the contract signed with Energy Holding resulted in loss of RON1.4 billion between 2006 and 2012, according to Euro Insol.
The contracts with Alpiq Romindustries and Energy Holding were terminated last year.
Hidroelectrica is controlled by the state, through the Economy Ministry.
It reported a record first-half profit of 481 million lei (EUR109.5 million) from losses in the year-earlier period, boosted by higher revenue from electricity trading and improved efficiency.
In the first half of 2012, Hidroelectrica posted loss of RON202 million. (EUR1=RON4.4048)