MVM becomes sole universal energy provider

Energy Trade

State-owned energy company MVM has wound up a deal to acquire 100% of E.ON Áramszolgáltató, German-owned E.ON's local electricity distributor for the regulated retail market, making it the only universal provider on the natural gas and the electricity market, according to a report by state news wire MTI.

The sale of E.ON Áramszolgáltató does not affect customers on the competitive market that have a contract with E.ON Hungária Group. E.ON Group will continue to provide electricity services to them in the future, MVM and E.ON said in a joint statement on Thursday.

MVM and E.ON reached an agreement on the acquisition in February. MVM Group owns a 25% stake in E.ON Hungária. The companies said the current agreement supports the long-term strategies of the two groups and helps them optimize their portfolios.

Number of Thefts in Capital Edges Higher in 2023 Figures

Number of Thefts in Capital Edges Higher in 2023

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Hungary Labor Costs 3rd-lowest in EU HR

Hungary Labor Costs 3rd-lowest in EU

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.