Chronological History

HISTORY OF THE MVM GROUP

Fundamentals of the modern Hungarian electricity system (1945-1962)

1949
Hungary’s single electricity system is established.
Power plant control is standardised.
The National Electricity Dispatch Centre performing the technical tasks of system operation is established.

1951
The management of regional electricity distribution companies is standardised.

Foundation and establishment of a nuclear power plant (1963-1991)

1963
The Hungarian Electricity Works Trust (MVMT) is established.
MVMT is responsible for the technical and economic management of the entire Hungarian electricity system.

1966
An international agreement is concluded for the establishment of the Paks Nuclear Power Plant.

1982-1987
The units of the Paks Nuclear Power Plant are commissioned.

Privatisation and market opening (1992-2012)

1992
MVM Ltd. is established, the trust is transformed into a two-tier system of companies limited by shares.

1995
Privatisation is carried out.

2000s
The networks are prepared for EU accession by the early 2000s.
The liberalisation of the electricity market begins.

Active state involvement (2013-2018)

2013
The natural gas business unit is established and developed.
MFGK and MFGT are purchased.

2017
A 50% stake is acquired in the ENKSZ (later NKM).

2017 and 2018
Strong expansion (acquisition of customer portfolios, acquisitions of DÉMÁSZ and Égáz-Dégáz)

Building a national ‘blue chip’ 2018 to date

2018
Integration of the MVM Group and the NKM Group begins.

2019-
NKM becomes 100% owned by MVM.
New strategy for MVM
Market growth in the new business areas
Regional market presence is strengthened.