Decisions taken by the Government for Hidroelectrica were correct and brought profit to the company, said Prime Minister’s adviser Cristian Socol, quoted by Agerpres.

“At the end of July Hidroelectrica closed another financing line, the fifth in the past five months, significantly reducing indebtedness by repaying loans”, says Cristian Socol.

“Repayment recent corporate loans and closing those credit lines at Alpha Bank, Banca Transilvania, EBRD, Citibank and RBS, worth over 175 million euros, helped reduce by 76% Hidroelectrica’s total debt. Basically, from loans totaling 841 million euros, from the moment of opening its insolvency proceedings until August, now the company owes to its creditors 204 million euros. “

Cristian Socol added that, “the fight against ‘smart guys in power trading’ has obvious results, keeping in mind that the gross profit achieved in the first six months of 2014 reached a record level of 509 million lei”.

“A very good news is that the independence of Hidroelectrica in relation to banks, obtained by hard work and sacrifices, will guarantee a high success rate after the closure of insolvency proceedings and a high degree of competitiveness,” the adviser also said.