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As far as I understood, their electricity contract did not expire, or at least that was not explicitly mentioned. The transfer company, which now cut them from
by Hamuko 5y ago
As far as I understood, their electricity contract did not expire, or at least that was not explicitly mentioned. The transfer company, which now cut them from the grid, was their electricity seller until the end of 2021, and from the beginning of 2022 they had another seller provide them electricity, but that has ended for reasons unknown.
>"Hänen mukaansa aiemmin sähköä myi Yandexille Nivos Energia, mutta sopimus päättyi jo vuodenvaihteessa. Tilalle tuli uusi sähkönmyyjä, joka on nyt lopettanut sähkönmyynnin."
- Ndymium 5y agoYou're correct, though I wonder what the reason could be other than expiring. Thinking out loud, maybe they've had trouble paying due to money transfer issues between Finland and Russia. In any case it's not directly due to any sanctions as the company is not sanctioned.
- nicce 5y agoI guess the company was Ilmatar Energy, and they had signed a five-year contract, which started in January. Some contract violation is required to cancel that. https://www.saurenergy.com/solar-energy-news/russian-yandex-signs-5-year-wind-ppa-with-finnish-ilmatar-energy https://www.saurenergy.com/solar-energy-news/russian-yandex-... https://www.datacenterdynamics.com/en/news/yandex-signs-5-year-renewable-energy-deal-in-finland/ https://www.datacenterdynamics.com/en/news/yandex-signs-5-ye...
- b112 5y agoI wonder. Every contract I've ever signed, has clauses about "unless legally compelled". EG, if it is an NDA, it often talks about the NDA being void, if compelled to testify etc etc Most supply contracts should have the same concept. That is, "this contract isn't enforcable, if a party is legally compelled to do thing $x".
- Tuna-Fish 5y agoThis doesn't need to be written into the contract inside the EU. Law is stronger than contracts, legislators and courts can pre-empt contracts in part or in whole.
- nicce 5y agoI wonder how often these pre-empt cases can be handled privately. E.g. what is the likelihood that it has happened in this case without public knowledge.
- deleted 5y ago[deleted]
- Ekaros 5y agoThe new seller went bankrupt? The massive increased price in electricity and long term contracts with other parties could have made them unable to continue running. Specially if it is some rather small company.
- Hamuko 5y agoIt seems unlikely for a company on the scale of Yandex to make a deal with a small company unless they had literally no other choice. And like nicce pointed out, they seemed to have a five-year contract with Ilmatar Energy Oy, which in 2020 did 30.3 million euros in revenue and 1.9 million euros in profit, and seem to still be solidly in the business of selling wind power.