Energy supplier Tinmar fined after notifying customers about possible termination of contracts

Tinmar Energy, the largest private electricity supplier, and its affiliated companies have been fined by market regulator ANRE, which carried out unannounced control actions following notifications sent by the firms to its customers regarding the possible termination of contracts as of September 16.

The fines amount to a total of RON 100,000 (EUR 20,000), according to Profit.ro.

The companies in the group will also have to adjust their contracts with the end users, such as to exclude the clause that allows them to terminate the contracts unilaterally.

ANRE reportedly found that Tinmar was never at risk of not having enough electricity to supply to its customers. But the rumours generated by its notifications can be safely assumed to have contributed to the rising of the electricity prices on the market - with the result of higher profits.

Tinmar Energy reported RON 3.56 bln (EUR 730 mln) in revenues last year, 62% more compared to 2020. Its net profit rose by 27% YoY to RON 143 mln, in the context where many big players in the energy trade ended the year with historic losses.

(Photo source: Dreamstime.com)