Hidroelectrica begins procedure for exchange listing


August 26, 2015





August 26, 2015




Six months out of insolvency, largest national power producer may be listed at the stock market, said. Károly Borbély, Hidroelectrica’s head of strategy and corporate affairs, said the preparations already begun. „It will be possible six months after we come out of insolvency, most likely in the fall of 2016 or early 2017,“ Romanian state-owned utility’s official underscored.

He argues that Hidroelectrica managed to decrease the cost of energy production from RON 176 (EUR 39.8) per MWh before the insolvency to EUR 24.2 per MWh. The company had good results last year, as profit of EUR 1.2 billion came from sales of EUR 3.2 billion euro. Lower net income is expected for this year, the report said. Hidroelectrica will reach the production level of 16 TWh, in comparison to 18 TWh of power from last year, so profit will be lower, Borbély said.

Bogdan Stănescu, the new special administrator of Hidroelectrica, believes listing is possible in 2017, about a year after exiting insolvency status. Hydropower plant operator may be listed on the stock market while still insolvent until May, the company’s trustee Remus Borza had said in June. Hidroelectrica would list 15% of shares, he added at the time.

Related Articles


Serbia’s power utility EPS posts Q1 net loss of EUR 254 million

30 June 2022 - The state-owned power utility is blaming the poor result on a drop in output, electricity imports, and capped prices for end-consumers


Switzerland’s Axpo to build two wind farms in Romania

30 June 2022 - The construction of the two wind farms, with a combined capacity of 250 MW, is expected to begin at the end of 2023


Greece passes renewables law targeting 15 GW in new capacity by 2030

30 June 2022 - Greece adopted a new law on renewables licensing, which includes various measures related to the energy crisis

EU agrees fossil fuel car ban as climate package talks are starting

EU agrees fossil fuel car ban as climate package talks are starting

29 June 2022 - The Council of the EU and European Parliament are set for talks on the Fit-for-55 package. Both agree new combustion engines should be banned by 2035.