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MVM Trade sells almost 1.5 mln MWh of electricity at auction

MVM Trade, the wholesale trade unit of the state-owned Hungarian Electricity Works (MVM), sold 1,465,776 MWh of electricity for delivery next year at an auction on Wednesday, the company said.

MVM Trade sold the electricity at an average price of HUF 16,217 per MWh.

At the previous auction, at the beginning of June, MVM Trade sold 240,000 MWh of electricity for delivery in August and September at an average price of HUF 15,944 per MWh.

MVM Trade is required by regulations to hold the auctions to lessen the effect of volatile prices on traders and consumers.