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MVM to Acquire E.ON Regulated Market Electricity Distributor

MTI-Hungary Today 2022.02.25.

State-owned energy company MVM on Thursday announced an agreement to acquire 100 percent of E.ON Áramszolgáltató, German-owned E.ON’s local electricity distributor for the regulated retail market.

The transaction is expected to close in the spring of 2022.

The deal will affect close to 2.5 million customers in the west and east of Hungary.

Low Utility Tariffs May Cost HUF 2,000 Billion in 2022 Budget
Low Utility Tariffs May Cost HUF 2,000 Billion in 2022 Budget

The difference between the "reduced" utility tariffs and the expected market prices of utility products this year, multiplied by the expected residential turnover, could amount to up to 5-7% of the total state budget's balance sheet.Continue reading

After the deal is closed, MVM will offer nationwide coverage for customers on both the regulated retail gas and electricity markets.

featured image illustration via László Róka/MTVA 


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