Romania’s biggest power producer Hidroelectrica has won the case against the energy traders Energy Holding and EFT AG.

The traders were unhappy that Hidroelectrica had delivered less cheap electricity to them in late 2011 and early 2012, before entering insolvency, and asked for almost EUR 23 million worth of compensations.

The producer still has four similar cases pending.

When entering insolvency in 2012, Hidroelectrica terminated several preferential contracts with private energy traders. These had managed to conclude long-term bilateral contracts with the state-owned power producer at very low prices. The traders would later re-sell the electricity at much higher prices.

In 2014 and 2015, Hidroelectrica posted its highest profits ever, as the company sold its electricity on the free market.

editor@romania-insider.com