The value of direct contracts renewed for the next five years byHidroelectrica with energy traders and Alro Slatina revolves around1.4bn euros, given current electricity prices.
Had these contracts been sealed at the market price, which is25% higher in the case of intermediaries and 40% higher for Alro,their value would have stood at 1.85bn euros. Hidroelectricaannually sells 40% of energy generated for the next five yearsthrough these contracts.
Thus, energy traders are benefiting from a 250m-euro discount andAlro from a 200m-euro one, namely a total amount of 450m euros,which Hidroelectrica accounts for by the need of some long-termcontracts and the demand of aiding the national industry in Alro'scase.
The data is not public, but represents ZF estimates on the basis ofpublic information around these contracts and of officials'statements.
Hidroelectrica in October 2010 renewed half of the contracts inkedwith energy traders for another five years, contracts that had beenpreviously sealed for different periods starting 2001.
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