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.
The management of regional power distribution companies is standardised.
Establishment and nuclear power plant construction
The Hungarian Electricity Works Trust (MVMT) is established.
MVMT is responsible for the technical and economic management of the entire Hungarian electricity system.
An international agreement is concluded for the establishment of the Paks Nuclear Power Plant.
The units of the Paks Nuclear Power Plant are commissioned.
Privatisation and market opening
MVM Ltd. is established, the trust is transformed into a two-tier system of companies limited by shares.
Privatisation is carried out.
The networks are prepared for EU accession by the early 2000s.
The liberalisation of the electricity market begins.
The natural gas business unit is established and developed.
MFGK and MFGT are purchased.
A 50 % stake is acquired in the ENKSZ (later NKM).
Strong expansion (acquisition of customer portfolios, acquisitions of DÉMÁSZ and Égáz-Dégáz)
Building a national ‘blue chip’
The integration of the MVM Group and the NKM Group begins.
NKM becomes 100 % owned by MVM.
New strategy for MVM
Market growth in the new business areas
Regional market presence is strengthened.
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