Getica 95 files for insolvency after Cernavodă nuclear plant shutdown

Getica 95, the sixth-largest retail electricity supplier in Romania, filed for insolvency after the Cernavodă nuclear plant stopped operating, cutting off its primary source of power from Nuclearelectrica. Deprived of the contracted nuclear electricity, the company had to turn to the day-ahead market, where prices are substantially higher than the roughly 550 lei/MWh it pays under its Nuclearelectrica contracts. This price disparity strained Getica’s cash flow and forced it to seek protection from creditors.

The insolvency request was lodged with the Buzău Tribunal, and a first hearing has been set for later in October. Getica 95 is also challenging the force-majeure certificate granted to Nuclearelectrica, a request that was rejected in first instance, prompting an appeal. The firm previously emerged from insolvency in 2023 after a restructuring plan that cleared nearly 150 million lei of debt.