Hungarian Prime Minister Viktor Orbán has revealed that his government plans to move ahead with the nationalization of E.ON’s gas business in Hungary. Orbán said Hungarian Electricity Works (MVM) had come to an agreement with the German company on the purchase of its four gas storage facilities. Included in the deal was its contract for gas deliveries from Russia. The move is part of Orbán’s efforts to exercise greater control over the country’s energy and utilities sectors, but this flies in the face of the European Union’s efforts to open markets for private competition. Orban argues that the government is putting itself in a position to bring utility prices down at least to European averages.
