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Hungarian Energy Report
Emerging Markets Direct, Nov 2006, Pages: 14
The Hungarian Energy Sector Report offers an extensive summary of the Hungarian energy market. It includes a complete coverage of the latest developments as well as the latest corporate news accompanied by statistical data. This sector report is ideal to keep you abreast on recent company and industry news. Written by local analysts, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions. The report covers the period: August 16, 2006 – November 15, 2006.
State-owned Hungarian Electricity works (MVM) sold 326MW of excess capacity at the ninth auction since the partial deregulation of the electricity market, MTI News Agency reported. The amount is 10% more than the initially planned and generated HUF 37bn for MVM. Demand at the auction was markedly higher than previous tenders as the excess capacity was sold to total of 19 power companies, more than the outcome for any of the previous events. MVM sold capacity for both H1/2007 and full-2007. The average price for the former was HUF 15.325 per kWh and in the case of the latter it was HUF 15.102 per kWh. The strong demand contributed to further widening of the gap between the prices on the regulated and deregulated market with the differential now reaching some 30-40%. According to industry experts, the auction results have shown that prices on the deregulated market have reached the level on the German market.
Highlights:
- MVM sells 326MW excess capacity, 10% more than planned
- Eurostat: Hungary’s energy consumption rises by 5.9% in 2005
- Mol reports 112% y/y jump in net income in Q3
- Mol, E.ON continue in tender for construction of strategic gas reserve
- Canada’s Falcon announces gas discovery at exploration project in SW Hungary
- Mol expects to complete major upstream acquisition within 1 year
- Mol signs petroleum concession agreements on 2 exploration blocks in Pakistan
- OMV to invest some EUR 15mn in network expansion in Hungary
- Matra power plant to invest EUR 727mn in construction of new 400MW block
- Grid operator Mavir to start daily cross-border auctions with Slovakia as of 2007
- Emfesz to start selling electricity on local deregulated market
- DBM to invest HUF 12bn in biomass power plant
- State-owned MVM agrees to sell 84% stake in Vertes Power Plant to PRO-NIX
- Mol reportedly wants to boost stake in INA in exchange of EUR 1bn in investments
- EDF announces public purchase offer for Demasz at HUF 20,000 per share
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