ADVERTISEMENT

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.

ADVERTISEMENT

Czech economic confidence improves in May Analysis

Czech economic confidence improves in May

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.