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Hungary launches state-owned utilities company

The Hungarian state is launching a holding company that will act as an “efficient, predictable and cheap” utilities provider, state secretary Zsuzsa Németh said at a press conference today.

Hungarian news agency MTI noted that a government decree published in January mandated the establishment of the First National Utilities Company (ENKSZ) with share capital of HUF 1 bln and capital reserves of HUF 14 bln.

The Hungarian government first spoke about the establishment of such a company last September. The government said that the aim of the company would be to make energy available at fair prices and increase security of supply. The company will be overseen by the Prime Minister’s Office, currently led by János Lázár.