Electra Energy Ltd is being wound up, eight years after the company was established by the German OstElektra. This is the same company that owns Jes Energy in Poland, Most-Energija in Serbia and the Advanced Energy Trading (Germany). Electra Energy was profitable until 2007, after which the company’s income started to fall. In 2010, it made a loss of HUF 43m, while its equity was only HUF 44 million. OstElektra, which modified its name to S4E Group has no other interests in Hungary, so the wind up of Electra Energy means also signals the German company’s exit from the Hungarian market.
