Romanian and Bulgarian Presidents Meet In Sofia
Romanian President Klaus Iohannis met with his Bulgarian counterpart Rosen Plevneliev, in capital city of Sofia, on Wednesday.
The meeting comes in the context in which a NATO summit is scheduled to take place in Warsaw, in only three weeks’ time.
Iohannis on Wednesday said the negotiations for the completion of the boundary delineation of maritime areas in the Black Sea need to be intensified, pointing out that Romania wants a solution that complies with the method established by international courts’ jurisprudence.
According to him, Bulgaria is Romania’s neighbour and traditional partner. Moreover, Iohannis also mentioned that Rosen Plevneliev was the first president to visit Romania after he took over as head of state. (Adevarul)
Hidroelectrica Expected To Exit Insolvency Next Week
The Bucharest Court is expected rule, on June 21, on the exit from insolvency of state-owned hydropower producer Hidroelectrica, of the most profitable state-run companies.
At the time of Hidroelectrica’s first insolvency, lawyer Remus Borza, the representative of Hidroelectrica’s legal administrator Euro Insol, said all state companies should go through the “insolvency purgatory”, for the very purpose of being “cleaned” off bad contracts, reorganized and turned into viable companies.
In 2013, Hidroelectrica started legal proceedings against several energy traders, including Energy Holding, claiming “several hundred million lei” for damages caused by the below-market prices in the bilateral electricity contracts signed with the company. According to a report by Hidroelectrica’s legal administrator Euro Insol, the company lost RON4.8 billion (EUR1.1 billion) between 2006 and 2012 by signing bilateral energy deals at below-market prices.
Hidroelectrica is controlled by the state through the Ministry of Energy and has been insolvent since early 2014. In 2015, Hidroelectrica budgeted investments of EUR1.3 billion for the next five years. (Puterea)
Metrorex To Get Electricity From Hidroelectrica Between July 2016 And June 2017
Romanian state-owned hydropower producer Hidroelectrica won on June 13, 2016, through open auction, a contract worth EUR12.7 million (VAT included) for the delivery of electricity to Bucharest subway operator Metrorex, for the period July 1, 2016 – June 30, 2017
The contract, financed from budget funds, stipulates delivering nearly 170,000 MWh of electricity to Metrorex for a 12-month period.
The initially estimated value of the contract was RON56.1 million (VAT not included). The contract was awarded for RON46.8 million (VAT not included), to the lowest bidder.
Considering the VAT, the final value of the contract awarded to Hidroelectrica exceeded RON56.2 million (over EUR12.7 million). (Adevarul)
Romania Under Red Code Alert For Floods
Romanian weather authorities issued a red code alert for floods on June 2, targeting the counties of Harghita, Covasna, Bacau, Neamt and Vrancea.
Meteorologists kept issuing warnings that floods can also cause major damages in the counties of Maramures, Satu Mare, Salaj and Bistrita.
Over the past days, Timis and especially Tulcea were seriously affected by pouring rain and only the southern part of the country somehow escaped this situation. (Evenimentul Zilei)
Weather Gets Warmer On Wednesday And Thursday
Romanian weather authorities said the weather will be getting warmer on Wednesday and Thursday, with maximum temperatures ranging between 21 and 30 degrees Celsius.
Precipitation will not exceed 15 – 20 liters per square meter. On Wednesday, wind speeds will be moderate, especially in mountainous areas, where fog is also expected, according to meteorologists.
Capital Bucharest will also enjoy nice weather, with maximum temperatures reaching around 29 degrees and minimum temperatures reaching around 16-17 degrees. (Adevarul)