Swiss Energy group Alpiq, with turnover worth some 10 billion euros, has struck another deal on the Romanian market, taking over most of the energy contracts of energy trader Energy Holding, via the acquisition of EHOL Distribution. At the end of 2007, the Swiss bought another local trader, Buzmann Industries.
EHOL Distribution was established in mid last year and, according to sources on the market, it received most of the energy contracts of Energy Holding, one of the most influential energy traders set up by controversial Bogdan Buzaianu, godson of former Industry Minister of Dan Ioan Popescu during the Nastase government. Between 2002-2004 the company’s turnover skyrocketed from 1.5 million euros to almost 200 million euros. Also during this period, Energy Holding signed direct power purchasing contracts with the cheapest local producer, Hidroelectrica.
Considering the latest data provided by the National Energy Regulatory Authority (ANRE), in March this year, EHOL Distribution and Buzmann Industries controlled 10% of the competitive electrical power supply market, which means that the Swiss become the second leading trader after this deal, ahead of Electrica but behind Complexul Energetic Craiova (Craiova Energy Complex). Moreover, whereas Energy Holding still showed in ANRE’s reports as holding a 6% market share at the end of last year, the energy trader can no longer be found this year, as it was replaced by EHOL Distribution, also with a market share of 6%. Considering the amount of energy sold on this market in 2008, its value revolves around one billion euros.
"EHOL Distribution took over a substantial part of the energy contracts that belonged to Energy Holding," sources on the market specified.
EHOL Distribution received the licence to supply electrical power at the end of last March, and became operational on July 1, 2008 according to the company’s website.
"There has not been and there is no connection between Energy Holding and EHOL Distribution," specified the representatives for Energy Holding, though they did not comment on the information about the transfer of contracts between the two entities.
Energy Holding is one of the companies that managed to sign in the early 2000s a long-term purchasing contract with Hidroelectrica, the cheapest local energy producer. After having become the leading private player on the electrical power supply market, Energy Holding lost its leading position on the market after having lost a series of major contracts such as that to supply Oltchim chemical plant, as well as the deal with Petrom. According to the Trade Registry data, the sole shareholder of EHOL Distribution is Cyprus-based Energy Generation Limited, while the shareholders of Energy Holding are Marken Investment & Trading M.I.T (Netherlands) and Energy Holding Limited (Cyprus).
"EHOL Distribution has 13 employees and supplies power to medium and large clients in the industrial sector and to distribution companies. On the segment of end clients, EHOL will work together with Buzmann Industries S.R.L, which operates on the segment of medium industrial clients," say the representatives of Alpiq, a group created by the merger of Atel Holding AG and Energie Ouest Suisse SA.
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