History of the MVM Group

1945 – 1962
Fundamentals of the modern Hungarian electricity system
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 power distribution companies is standardised.

1963-1991

Establishment and nuclear power plant construction

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.

1992-2012

Privatisation and market opening

1992

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

1995

Privatisation is carried out.

2000's

The networks are prepared for EU accession by the early 2000s.

The liberalisation of the electricity market begins.

2013-2018
Active state involvement
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).

2017-2018

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

2018 to date

Building a national ‘blue chip’

2018

The integration of the MVM Group and the NKM Group begins.

2019 to date

NKM becomes 100 % owned by MVM.

New strategy for MVM

Market growth in the new business areas

Regional market presence is strengthened.

2020 to date

MVM acquired 100 % ownership of innogy Česká republika

MVM became the owner the Hungarian subsidiary of the German energy company Enexio, together with its two Chinese subsidiaries and a world-famous Hungarian patent