Magáz developing next-gen energy distribution, billing system

Innovation

Hungarian gas company Magáz is developing a "next-generation" energy distribution and billing system with a HUF 314 million grant from the National R&D&I Office.

Magáz told MTI the system is supported by blockchain-based software and uses smart metres to match consumers with traders and suppliers.

The company plans to start installing the system's smart meters in Kiskunlacháza, south of the capital, from the second half of the year.

The grant money is covering close to two-thirds of the cost of the project which is slated to finish in early 2024.

Magáz supplies gas to more than 18,000 retail and corporate customers. Last year, the company had an estimated turnover of over HUF 620 mln.

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