“We are negotiating bilateral contracts. (…) We have agreed with all companies that the new prices will be paid starting January 1. (…) We will reach an average price of 160 lei (EUR36) per MWh,” Zachia told a news conference.
Average prices in the company’s bilateral contracts were at some RON130 in 2010.
Hidroelectrica started concluding direct supply contracts in 2000, and half of these agreements were extended until 2018.
In December, the company said it would terminate its bilateral deals concluded outside the energy market OPCOM at the earliest possible time.
Companies having direct sale contracts with Hidroelectrica include aluminum maker Alro Slatina (ALR.RO), Romania’s largest energy consumer, as well as traders Energy Holding, Alpiq RomEnergie, Alpiq Romindustries (former Buzzman Industries).
At the end of 2011, Hidroelectrica terminated direct sale contracts with mining company SNLO, Salrom and CLMB Patinoar Brasov, while Luxten Lightning gave up the agreement “for image reasons”.
Hidroelectrica was massively affected by the drought seen in the second half of the year, and in September it was forced to call force majeure and reduce the quantities of electricity delivered in all contracts.
Regarding the force majeure situation, Zachia added there is no expiration date on the clause.
“Force majeure will be lifted when the conditions that caused it are gone. There is no deadline for it,” Zachia added.