This year’s budget will be modified according to a government bill introduced to the Hungarian Parliament, because of expected purchase of E.ON’s gas storage and wholesale operations by Hungary’s primary electricity producer, MVM. The state is backing the purchase with a state guarantee and is setting aside HUF 90bn for the purchase of inventories. MVM will pay a 0.1 percent fee to the state for the guarantee. Orbán said agreements on the transaction had been reached and only technical details remain to be worked out before signing.
