MVM Group

MVM Group
Company type	HUF (2011)
Net income	68,100,000 Euro (2018)
Owner	Hungary (100% state ownership)
Number of employees	7,859 (2011)
Website	mvm.hu

MVM Group (Magyar Villamos Művek Zártkörűen működő Részvénytársaság, literally: Hungarian Electrical Works Private Limited Company) is a Hungarian power company, and has a Hungarian monopoly for the production, distribution and sale of electricity.

Synopsis

The company owns several

carbon emissions

and potentially become one of the cleanest electricity generators in Europe, along with France and Sweden.

In 2011, MVM entered the

liquid gas from a planned Croatian

gas terminal.

MVM was also a founder (along with two other state enterprises:

mobile phone company

MPVI, but the company proved too expensive to start. MVM sold its share to Magyar Posta in December 2013, and MPVI's board of directors was disbanded on 19 December 2013, finalizing MPVI's incorporation to Magyar Posta.

In the middle of 2012, MVM established a subsidiary for prepare the factual steps of Paks expansion. According to the latest plans the construction will take up in 2021 and the first new unit will be complete several years later.

In October 2020 MVM Group purchased from

dry cooling tower system, named EGI.^[1]^[2]^[3]

In August 2022 the Hungarian government issued a construction permit for the MVM Group to build a twin

VVER-440 type. The contractor is Rosatom and the expected completion date was scheduled for 2030.^[4]^[5] The contract is majority supported by a Russian state loan.^[5]

In August 2023, Qatar agreed to supply Hungary with LNG starting in 2027.^[6] MVM started talks with QatarEnergy LNG about quantity, pace and shipment.^[7]^[8]

Leadership

Peter Csiba^{[citation needed]}
György Kóbor (2020)^[1]

References

^ ^a ^b Biró, Zsófia (31 October 2020). "MVM Group acquires Enexio Hungary opening business opportunities also in China". CeenergyNews.
^ "It's Official! We Have a New Company Name. Renaming of ENEXIO Hungary Zrt. to MVM EGI Zrt". MVM EGI Zrt. 6 January 2021.
^ "Hungary: MVM acquired 100% ownership of Enexio Hungary". 2 November 2020.
^ Gulyas, Veronika (26 August 2022). "Hungary Boosts Russia Energy Links With Nuclear Plant Permit". Bloomberg News.
^ ^a ^b "Construction licence issued for Paks II". World Nuclear Association. World Nuclear News. 26 August 2022.
^ Gyori, Boldizsar (2023-08-18). "Hungary will receive LNG from Qatar starting in 2027". Reuters. Retrieved 2023-09-21.
^ "Hungary inks deal for Qatari gas". www.al-monitor.com. 2023-08-18. Retrieved 2023-09-21.
^ Qarjouli, Asmahan (2023-08-20). "Qatar's amir lands in Hungary as energy talks top agenda". Doha News. Retrieved 2023-09-21.

External links

[zb-1] Biró, Zsófia (31 October 2020). "MVM Group acquires Enexio Hungary opening business opportunities also in China". CeenergyNews.

[itsoff-2] "It's Official! We Have a New Company Name. Renaming of ENEXIO Hungary Zrt. to MVM EGI Zrt". MVM EGI Zrt. 6 January 2021.

[serb-3] "Hungary: MVM acquired 100% ownership of Enexio Hungary". 2 November 2020.

[bnvg-4] Gulyas, Veronika (26 August 2022). "Hungary Boosts Russia Energy Links With Nuclear Plant Permit". Bloomberg News.

[wnnl-5] "Construction licence issued for Paks II". World Nuclear Association. World Nuclear News. 26 August 2022.

[6] Gyori, Boldizsar (2023-08-18). "Hungary will receive LNG from Qatar starting in 2027". Reuters. Retrieved 2023-09-21.

[7] "Hungary inks deal for Qatari gas". www.al-monitor.com. 2023-08-18. Retrieved 2023-09-21.

[8] Qarjouli, Asmahan (2023-08-20). "Qatar's amir lands in Hungary as energy talks top agenda". Doha News. Retrieved 2023-09-21.

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