State - owned Nuclearelectrica sues Romanian energy authority ANRE over regulated energy prices

Romania’s electricity producer Nuclearelectrica has started a lawsuit against Romania’s energy authority ANRE, arguing that the institution had asked the company to deliver energy to the population at a fixed price, below the market price. Nuclearelectrica submitted the lawsuit application to the Bucharest Court of Appeal on January 23, according to a statement of the company. ANRE decided last year that Romanians should receive regulated energy only from Nuclearelectrica and Hidroelectrica, reports local agency Mediafax. Nuclearelectrica is asking the court to partially cancel ANRE’s decision on the approval of amounts of energy sold under regulated contracts, as well as the delivery prices. Hidroelectrica is obliged by ANRE to sell energy to the population at an average price of RON 115.2 per MWh this year, while Nuclearelectrica will have to deliver energy for RON 145.8 per MWh, according to the data reported by Mediafax. Both Nuclearelectrica and Hidroelectrica are controlled by the state, through the Energy Department. Nuclearelectrica, which runs the Cernavoda nuclear power plant, plans to produce a total of 10.5 million MWh of electricity in 2014. The company recorded a turnover of some EUR 323 million (RON 1.42 billion) in the first nine months of 2013, up 19 percent year-on-year, and a net profit of EUR 75 million (RON 331 million), from loss in the same period of 2012. Irina Popescu, irina.popescu@romania-insider.com