MVM Becomes Sole Universal Energy Provider in Hungary

  • 15 Apr 2022 5:58 PM
  • Hungary Matters
MVM Becomes Sole Universal Energy Provider in Hungary
State-owned energy company MVM has completed 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. 

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 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 optimise their portfolios.

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