On November 1, the MVM Group’s electricity and natural gas trading and wholesale company began operating under the name MVM ONEnergy Zrt. The new entity was established through the integration of MVM CEEnergy’s natural gas wholesale business and MVM Partner Zrt.’s electricity trading operations.
MVM Group has consolidated its natural gas and electricity wholesale activities into a single company from November 1. The natural gas wholesale activities of MVM CEEnergy Ltd. have been merged into the former electricity wholesaler MVM Partner Ltd., which now operates under the name MVM ONEnergy Ltd. as Hungary's largest energy wholesaler. Within the framework of universal service, MVM Next Ltd. will continue to provide energy services to residential consumers in the same form as before. The merger will bring about administrative changes for customers and partners in the short term, but the company will provide detailed information to all parties concerned and the continuity of service will remain fully guaranteed. In the longer term, MVM ONEnergy customers will have access to an increasingly complex, integrated product portfolio, similar to that offered by Western European energy trading companies.
The integration does not affect MVM CEEnergy Ltd.'s upstream activities, which will continue to operate as a separate business unit under a separate company structure.
The commercial potential of MVM ONEnergy is demonstrated by the fact that MVM CEEnergy's total sales volume was 125 TWh in 2022, 117 TWh in 2023, and 153 TWh in 2024, while MVM Partner's electricity sales in the same years amounted to 136 192 and 244 TWh, respectively.
“The establishment of MVM ONEnergy marks the beginning of a new era in domestic and international energy trading, enabling us to think on a larger scale and operate more efficiently, flexibly and competitively than ever before in the constantly changing European energy market. The new company started with a combined portfolio and a significant annual traded energy volume, thus securing a strong market position for us in both the electricity and natural gas markets, domestically and internationally. Thanks to our combined expertise, complex product portfolio and innovative and competitive services, we are able to serve our customers in line with the practices of large Western European energy trading companies," - said Károly Mátrai, CEO of MVM Group.
MVM ONEnergy has a nearly 60 percent share of the domestic natural gas wholesale market and also has significant market share in several countries in Central and Eastern Europe and Southeast Europe. The electricity generated by domestic power plants contracted by MVM ONEnergy accounts for nearly 40 percent of the country's gross consumption. With the cooperation of other member companies of the MVM Group, the company serves consumers supplied by the domestic universal service, as well as numerous large corporate customers, including the largest domestic industrial players, public utilities, and public institutions, both directly and indirectly.
“Energy markets are becoming increasingly volatile, complex and globalized, which means that competition is faster and more intense, and places ever greater technological demands on all participants. With the creation of MVM ONEnergy, we can provide effective responses to all of these challenges. The merger also strengthens security of supply, as a larger and more integrated organization has a broader portfolio and greater market weight," - added Gábor Orbán, CEO of MVM ONEnergy.
In addition to its domestic electricity and natural gas wholesale activities and contracted power plant portfolio, the company operates in 20 European countries and has access to 11 trading exchanges. In several countries – including Germany, Italy, France, Spain and other Western European markets – it is active in electricity wholesale trading, while in Central and Southeastern Europe – for example in Austria, the Czech Republic, Slovakia and Croatia – it is present through its subsidiaries, engaging in both electricity and natural gas wholesale and retail operations.