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2 clusters · 8 sources · 18 days · First seen 27 days ago · Last updated 9 days ago

Getica 95 Com energy supply and insolvency dispute

Overview

The Romanian electricity supplier Getica 95 Com entered a period of severe financial instability following a dispute with Nuclearelectrica over energy deliveries from the Cernavodă nuclear plant.

Initially, Getica 95 Com filed an appeal and a merits action regarding the cessation of energy deliveries, claiming Nuclearelectrica failed to deliver approximately 23,217.60 MWh. The company reported daily losses of 1.5 to 2 million lei as it was forced to purchase more expensive energy to meet its obligations to public entities.

By October 2026, the situation escalated as Getica 95 Com filed for insolvency at the Buzău Tribunal. The company reported annual losses of 87.6 million lei and a financial gap of approximately 230 million lei over a two-and-a-half-month period. This crisis was driven by the shutdown of the Cernavodă plant due to low Danube water levels caused by drought, which allowed Nuclearelectrica to invoke force majeure. Consequently, Getica 95 Com had to source electricity from the spot market at prices rising from 550 lei/MWh to as much as 1,500 lei/MWh during peak hours.

Entities

Nuclearelectrica · Getica 95 Com · Viorel Tudose · Tinmar Energy · ANRE

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] 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'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] 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 was previously in insolvency between June 30, 2021, and August 9, 2023. 60m.ro

Timeline

9 days ago

[BUSINESS] 3 sources
Getica 95 Com files for insolvency amid energy market volatility
Getica 95 Com, a major Romanian electricity supplier, has filed for insolvency following massive losses attributed to the shutdown of the Cernavodă nuclear plant and rising spot market prices.
27 days ago

[BUSINESS] 6 sources
Getica 95 Com appeals dispute with Nuclearelectrica over energy deliveries
Getica 95 Com is appealing a legal ruling against Nuclearelectrica and seeking damages for daily losses of up to 2 million lei caused by interrupted energy deliveries.

Sources

60m.ro · dcnews.ro · economedia.ro · financiarul.ro · newsweek.ro · puterea.ro · stiripesurse.ro · thediplomat.ro