The state loses another arbitration case in Paris and owes almost EUR 2mln to Germany’s E.ON

The state has lost another case at the International Court of Arbitration in Paris in which it had asked E.ON for compensation of EUR 33mln for failure to fulfill certain terms of the privatization contract of former Electrica Moldova, currently being required to pay to the German company court charges of around EUR 2mln.

Electrica, the largest player in energy distribution and supply, with a portfolio of 3.5 million consumers, has sued companies that took over former subsidiaries of Electrica through privatization, but it has been losing the cases one by one, according to Ziarul Financiar. The most extensive dispute, which is still ongoing, has over EUR 500mln at stake and targets Italy’s Enel and the former Electrica Muntenia Sud.