Electricity distributors Budapesti Elektromos Művek (Elmű) and Észak-Magyarországi Áramszolgáltató (Émász), both owned by German utilities company RWE-EnBW, have transferred their distribution activities into separate units, the companies announced on the website of the Budapest Stock Exchange (BÉT) on Monday.
The distributor activities of Elmű were transferred to Elmű DSO (Distribution System Operator), which is wholly owned by Elmű, and the distributor activities of Émász were transferred to Émász DSO, 100% owned by Émász.
At the same time, the network operation activities of both companies were transferred to a single company, called Elmű-Émász Hálózati Szolgáltató és Szerelő, in which Elmű holds 65% and Émász owns 35%. The customer relations of both companies are to be managed by another newly established joint company, Elmű-Émász Ügyfélszolgálati (customer services), in which Elmű holds 70% and Émász owns 30%.
The Hungarian Energy Office (MEH) approved the transfers of activities in December 2006. EU rules requiring electricity companies to create independent companies for network operation and delivery activities and for electricity distributor activities, are intended to make access to power networks more transparent. The deadline for meeting the requirement is July 1, 2007, when the EU electricity market is due to be fully deregulated. (Mti-Eco)