Hungary’s competition office (GVH) has approved the sale of power plants owned by the German energy company E.On to the Hungarian unit of French utility company Veolia. The parties agreed to close the transaction by the end of this year. The two combined-cycled power plants, located in Debrecen and Nyíregyháza, have not been in operation since June 2013 when E.On decided market conditions were unfavorable. It claimed that the tariffs at which it was allowed to sell energy did not make a profitable business possible.
