In March, the company tried to purchase 3.15 million megawatt hour of electricity on the exchange, but it withdrew its offer after no bidders showed interest. The quantity amounts to 5% of Romania’s energy consumption.
“We haven’t rescheduled the purchase because there are no signals that the operation would be successful,” Ribo said.
ArcelorMittal Galati offered 200 lei (EUR45.68) per MWh, above the price it used to pay to state-run hydropower generator Hidroelectrica, but below the prices negotiated on OPCOM’s Day Ahead Market.
According to Ribo, the Day Ahead Market is not a viable option for ArcelorMittal, because the costs would be prohibitive.
“We want stability, predictability, and a fair market price. We are not asking for state aid, but we are the second-largest energy consumer in Romania and we need this stability,” Ribo added.
Late April, the European Commission has launched five investigations into preferential tariffs at Hidroelectrica, with ArcelorMittal being one of the companies suspected of having purchased energy at below-market prices from the state producer.
ArcelorMittal denied allegations that it benefited from state aid.