The report read “that one of the causes for Hidroelectrica’s insolvency was the legal obligation, through various normative acts, to finance from own sources historic investments that use energy as a secondary alternative.”
Such investments include works for the protection of population and agricultural lands, and for ensuring the water reserve for the supply of the population, industry sector and irrigations. These projects, initiated by the former communist regime, were transferred to Hidrelectrica after 1990.
The report also reads these investments were not meant to improve Hidroelectrica’s production yield. (EUR1=RON4.4852)