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MÁV signs Ft 5 bln electricity contract with E.ON

Hungarian railway company MÁV has picked E.ON to supply electricity to thirteen switching yards, MÁV announced. The contract is worth Ft 5 bln a year, Ft 800 mln less than MÁV previously paid, according to the announcement. Business daily Világgazdaság reported on Wednesday that 40% of the power supplied under the contract will be purchased on the deregulated market. The savings bring MÁV closer to meeting its target of Ft 1.5 bln fewer expenditures. MÁV has also outsourced the operation of some of its vehicles to save money.