Retailer Cora becomes energy trader in Romania, wants to sell electricity to its tenants

Romania Hipermarché, the company which operates the Cora hypermarket chain in Romania has recently become a certified electricity trader and will sign the first electricity supply contracts in December, it has announced.

“It is the sort of business we believed desirable to get involved in, because we have a high electricity consumption. With this high consumption, we can get low prices from energy producers, and we can sell it further at attractive prices. […],” said Ana Maria Florea, PR responsible with Romania Hypermarche. Cora mainly targets the small stores in its commercial galleries, as well as other companies on the commercial platforms run by Cora. The retailer usually opens commercial galleries anchored by its hypermarket. The retailer will open three new hypermarkets in Romania next year, in Bucharest, Bacau and Slobozia, based on its previous announcements. The retailer opened in October its eighth hypermarket in the country, within Galleria Arad, a shopping center developed by GTC. The store covers 4,500 sqm and needed an investment of EUR 5 million. Corina Saceanu, corina@romania-insider.com