“Electrica terminated the contract with Oltchim Tuesday. The chemical plant was taken over by Electrica Furnizare, an Electrica branch, thus the electricity supply was not cut,” the sources said.
Electrica representatives could not be reached for comment.
Contacted by MEDIAFAX, Oltchim general manager Constantin Roibu said only that the electricity supply was not ceased.
The sources added that Oltchim’s unpaid bills remain as debt to Electrica.
The power supply contract was concluded in 2008 over an undetermined interval.
The chemical company posted a memo on the Bucharest bourse Monday, saying Electrica reduced deliveries and negotiations are under way for a solution to the situation.
The two companies agreed last year that the debt would be paid in monthly installments worth close to EUR1 million.
Oltchim and Electrica are both state-owned. Oltchim will undergo privatization this year.
Electrica will soon be taken out of the energy supply market, as the International Monetary Fund wants the company’s attributes transferred to Electrica Furnizare, which will be privatized by the end of October this year.
Electrica has three electricity distribution branches (Electrica Distributie Transilvania Nord, Electrica Distributie Transilvania Sud and Electrica Distributie Muntenia Nord), three supply branches and one service and maintenance firm – Electrica Serv.