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E2 to launch in January
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E2 to launch in January

December 4, 2015
E2 Hungary Zrt, a joint venture utility company founded by MET Holding AG and Magyar Telekom Nyrt, will officially launch on 1 January 2016. The merging of the two companies’ client portfolios has already started with the transfer of Telekom’s complete industrial utility business into the new company, which will also supply most of MET’s current commercial clients.

E2, having been issued all necessary permits, will continue providing energy supply services to all existing customers of MET and Magyar Telekom from the start of next year. Our clients are currently being informed of the changes. The 50-50 joint venture utility company will supply natural gas and electricity to more than 4,000 business customers in Hungary. Such a portfolio will put the new company among the most dominant players in the power and gas market.

Consumers will benefit from the company’s efficiency and from the flexible, customizable offers that it is set to introduce. MET will contribute its energy business expertise, Telekom its experiences in customer service, to the high-quality, innovative services provided by E2 Hungary. E2 is an autonomous business unit, working independently from its owners, implementing its own sales strategy.

Roland Krascsenics, the CEO of E2 Hungary said: “E2 will make the most of its expertise to efficiently help the energy purchases of its customers, so that they can focus on what they do best: their own business. We will achieve this goal by providing professional services and other value-added solutions, which, grounded on our accumulated experience, will be customized to the specific needs of our partners, not only in Hungary, but in other countries of the region as well over the medium-long term.”

The partnership is based on a strategic agreement between Magyar Telekom and MOL (which owns 40% of MET), signed in the summer of 2013. The takeover of Magyar Telekom’s commercial clients by the new joint venture will not affect the company’s domestic electricity customers in any way.

Magyar Telekom

Magyar Telekom is the principal provider of telecom services in Hungary. It provides a full range of telecommunications and infocommunications (ICT) services including fixed line and mobile telephony, data transmission and non-voice as well as IT and systems integration services. Magyar Telekom is the majority owner of Makedonski Telekom, the leading fixed line and mobile operator in Macedonia and it holds a majority stake in Crnogorski Telekom, the leading telecommunications operator in Montenegro. Magyar Telekom is majority owned (59.2%) by Deutsche Telekom AG. For more information, please visit the website.

MET Group 

MET Group is an energy trading company established in Hungary in 2007, currently active in ten countries (Austria, Croatia, Hungary, Romania, Russia, Serbia, Slovakia, Switzerland, Turkey and the UK) through subsidiaries. The company’s core business is natural gas trade with other activities including power and oil trade as well as power generation. It is active in the gas markets of 19 countries, generating a total revenue of nearly €4 billion in 2014. MET is listed in the top three traders in Austria’s VTP gas exchange, the biggest gas exchange in Central Europe, and it is among the top 15 in the Dutch TTF, the largest gas exchange in Continental Europe. For more information, please visit the website.