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[BUSINESS] · Romania · 3 sources

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Part of situation: Getica 95 Com energy supply and insolvency dispute (2 clusters)

Getica 95 Com files for insolvency amid energy market volatility

Getica 95 Com insolvency energy market Cernavodă nuclear plant Romania electricity

Getica 95 Com, one of Romania's largest competitive electricity suppliers, has filed for insolvency at the Buzău Tribunal. The company, controlled by businessman Viorel Tudose, reported annual losses of 87.6 million lei on a turnover of approximately 1.6 billion lei.

The filing follows the complete shutdown of the Cernavodă nuclear power plant, which has been offline for over a month and a half due to low Danube water levels caused by drought. This shutdown allowed the producer, Nuclearelectrica, to invoke force majeure, exempting it from delivering contracted energy.

As a result, Getica 95 Com has been forced to purchase electricity from the spot market at significantly higher prices—rising from approximately 550 lei/MWh to as much as 1,500 lei/MWh during peak hours. Viorel Tudose stated that the company's financial gap has reached approximately 230 million lei in the last two and a half months. This marks the second insolvency procedure for the company in recent years, following a period between June 2021 and August 2023.

Entities

Cernavodă Nuclear Power Plant · Complexul Energetic Oltenia · Getica 95 Com · Nuclearelectrica · Viorel Tudose

Claims

What the coverage asserts, and how many sources carry each claim.

  • [○ 1 SOURCE] Getica 95 Com has filed for insolvency rather than bankruptcy. 60m.ro
  • [○ 1 SOURCE] Nuclearelectrica obtained a force majeure certificate due to the Cernavodă plant shutdown. www.puterea.ro
  • [○ 1 SOURCE] Getica 95 Com holds a 4.28% market share in the competitive electricity supply market. 60m.ro
  • [○ 1 SOURCE] The company's financial gap reached approximately 230 million lei over the last two and a half months. www.puterea.ro
  • [○ 1 SOURCE] The shutdown of the Cernavodă nuclear plant forced the company to purchase more expensive electricity from the free market. www.puterea.ro
  • [○ 1 SOURCE] Getica 95 Com filed for insolvency at the Buzău Tribunal on October 1. www.puterea.ro
  • [○ 1 SOURCE] The company reported losses of 87.6 million lei last year on a turnover of approximately 1.6 billion lei. 60m.ro
  • [○ 1 SOURCE] The company was previously in insolvency between June 30, 2021, and August 9, 2023. 60m.ro

Sources

Șoc pe piața energiei: Getica 95 Com, unul dintre cei mai mari furnizori din România, își cere insolvența după pierderi masive - 60m. ro [60m.ro]
Un gigant al pieței de energie cere insolvența după oprirea reactoarelor de la Cernavodă [www.puterea.ro]
Getica 95 Com solicită insolvența. Viorel Tudose declară pierderi de 230 de milioane de lei [financiarul.ro]