“The Hidroelectrica board, reunited in an emergency meeting, decided to maintain force majeure until hydrological conditions are changed. As such, the company will notify all clients that the (Chamber’s cancellation of the approval) has been challenged in court and will not be applied,” the company said in a news release.
In addition, the board has empowered executive management to file a criminal complaint against the Chamber of Commerce president and board, following the approval withdrawal.
Hidroelectrica on Friday said the Chamber of Commerce abusively withdrew the force majeure approval issued in September, which enabled the company to limit deliveries contracted.
“Hidroelectrica management filed today, November 11, a prior complaint against Chamber bureau’s resolution, which abusively and illegally decided to withdraw the acknowledgment of a force majeure situation. In addition, the company called on the Bucharest Court of Appeals to suspend the enforcement of the resolution,” Hidroelectrica said in a news release.
On September 27, the company received all approvals necessary to instate a force majeure situation because of the drought. The force majeure claim enabled a 30%-60% reduction in the amounts of electricity delivered. At that date the company estimated the force majeure situation would be extended until the end of the year.
The Chamber of Commerce withdrew the force majeure authorization on November 7.