Hidroelectrica has denounced several contracts for the sale of electricity to AIK Energy LTD London Bucharest Branch already concluded, but for which the physical delivery had not started. It is about 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 no longer receives from Hidroelectrica in the first quarter of next year.
The contracts were concluded by the centralized market for bilateral contracts with continuous negotiation (PCCB-NC) and the termination announcement will soon appear in the dedicated section on the OPCOM platform.
The reason why Hidroelectrica terminated the contracts is that AIK did not come with a letter of bank guarantee required by market rules to start energy delivery. In this case, the company is entitled to terminate the contract directly, without any recourse to the court, as shown in the framework contract for energy trading on PCCB-NC.
And Hidroelectrica’s denunciation of delivery contracts is not a first. Earlier this month, the Oltenia Energy Complex terminated, in turn, two contracts for the sale of electricity to AIK, one aimed at band delivery for the first half of next year and another for the fourth quarter of this year. Each time, the reason invoked by CE Oltenia was: “Failure to fulfill the payment obligations by AIK ENERGY LTD LONDON BRANCH BUCHAREST”
AIK is the supplier with the best competitive offer to sell electricity to household consumers, even better than Hidroelectrica, where it partially buys electricity to supply to 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 very aggressive in its offers for domestic gas consumers, but in November, it announced to its customers that it could no longer supply them with gas and they were transferred to another supplier, as a last resort, Premier Energy.
In the electricity market, AIK was facing problems even before these denunciations. More precisely, AIK Energy Ltd. appears with a debt of about 693,000 lei to Transelectrica, in the account of receivables on the balancing market, so the company did not pay on time the invoices related to the imbalances produced in the market.
What happens to customers
AIK has to buy energy from other sources, if it has not already bought it, in order to provide electricity to its customers that it no longer receives from these producers. If it fails, and is unable to secure their supply, then its customers will be taken over by one of the Ultimate Suppliers until they conclude a new contract with another supplier. Customers will never run out of electricity.
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