Energy Scandal Ripples Through Former Alliance Members

Energy Scandal Ripples Through Former Alliance Members

Energy Holding signed two smart energy contracts in 2005.

“Evenimentul zilei” continues the series of  disclosures on the shady dealings on Romania energy market.

Energy Holding, the company founded by Bogdan Buzaianu, signed other contracts for purchasing energy from the state in December  2005.

The company that earned the first place on the Romanian energy traders’ market, signed in 2005 two contract for purchasing thermo-electrical energy from  Turceni Energy Complex. The value of these contracts is more than EUR160 million.

The contracts were assigned through direct negotiations instead of public bid at the Energy Bourse. 

The price obtained by  Energy Holding for one megawatt/hour was below production cost, according to a report carried out by the Economy Ministry’s watchdog in 2006, a document that is the cornerstone for prosecuting former economy minister .

At the time when he was economy minister Codrut Seres only verbally condemned the deal instead of taking action.

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