State-owned utility company to be launched February 28


The Hungarian government has mandated that the First National Utilities Company (ENKSZ) launch its business with share capital of HUF 1 bln and capital reserves of HUF 14 bln, as stated in a decree published in the latest issue of the official gazette Magyar Közlöny. The company is scheduled to begin operations by February 28.

The Hungarian Development Bank (MFB) will exercise ownership rights over ENKSZ. The Hungarian government justified this decision by revealing that the aim of such a national utilities company is to make energy available at fair prices and increase security of supply.

Earlier, Hungarian news agency MTI reported that the ownership rights and regulatory powers would be allocated to the head of the Prime Minister’s Office, János Lázár, and that the company was slated to offer retail gas services in the spring, followed by electricity and district heating services, the Prime Minister's Office told Hungarian news agency MTI today.


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