Are you sure?

Gas supply ensured by regulations, says state sec

Regulations in Hungary ensure continued gas supply for all consumers even if a supplier is unable to meet its obligations, National Development Ministry state secretary János Bencsik told MTI on Thursday, a day after reports that Emfesz, one of Hungary's biggest gas trade companies, could not pay its suppliers.

The National Development Ministry, in cooperation with the Hungarian Energy Office, is closely watching developments with Emfesz and is weighing whether the regulatory environment can manage risks to supply and ensure the uninterrupted supply of gas to consumers, Bencsik said. If, for some reason, a gas trader or a gas supplier is unable to meet its obligations, there are rules based on which supply to consumers can be ensured, he added.

Emfesz told MTI on Wednesday that it was starting liquidation procedures against several companies owned by a single individual because of some HUF 3 billion in overdue receivables. On the same day, daily Magyar Nemzet said Emfesz's gas suppliers were threatening to halt deliveries if Emfesz did not pay money owed them.

Emfesz sells gas to 300,000 retail consumers, 300 local councils, 1,100 institutional consumers, 6,000 SMEs and several hundred industrial companies. (MTI-ECONEWS)