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Hidroelectrica has denounced several contracts for the sale of electricity to AIK Energy LTD London Bucharest Branch that have already been concluded, but for which the physical delivery had not started. It is energy with bandwidth delivery of 15 MW per hour, with delivery in the first quarter of next year, according to our sources.
That is, a total of 32,400 MWh that AIK Energy will no longer receive from Hidroeléctrica in the first quarter of next year.
The contracts were concluded by the centralized market for bilateral contracts with continuous trading (PCCB-NC) and the termination announcement will soon appear in the dedicated section on the OPCOM platform.
The reason Hidroeléctrica terminated the contracts is that AIK did not come with a bank guarantee letter required by market rules to start the delivery of energy. In this case, the company has the right to terminate the contract directly, without going to court, as shown in the framework contract for energy trading in PCCB-NC.
And Hidroeléctrica’s complaint about the delivery contracts is not the first time. At the beginning of this month, the Oltenia Energy Complex terminated, in turn, two contracts for the sale of electricity to AIK, one for the delivery of band for the first half of next year and another for the fourth quarter of this year. On each occasion, the reason invoked by CE Oltenia was: “Breach of payment obligations by AIK ENERGY LTD LONDON BRANCH BUCHAREST”
AIK is the supplier with the best competitive offer to sell electricity to domestic consumers, even better than Hidroeléctrica, from where it partially buys electricity to supply its customers.
AIK Energy is the former Valahia Gaz, which was, in the past, one of the largest gas importers in Romania. The company was also very aggressive in its offers to domestic gas consumers, but in November it announced to its customers that it could no longer supply them with gas and they were moved to another supplier, as a last resort, Premier Energy.
In the electricity market, AIK was facing problems even before these complaints. More precisely, AIK Energy Ltd. appears with a debt of about 693,000 lei with Transelectrica, in the balance market collection account, for which the company did not pay the invoices related to the imbalances produced in the market on time.
What happens to customers
AIK must purchase energy from other sources, if it has not already purchased it, to provide electricity to its customers that it no longer receives from these producers. If it fails and cannot secure its supply, one of the Last Resort Providers will take care of its customers until they enter into a new contract with another provider. Customers will never be without power.
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