Hungary’s state-owned electricity distributor, Hungarian Electricity Works (MVM) could end up purchasing the Bakonyi Power Plant, which produces energy for a large portion of Hungary. The company announced that in view of the fact that MAL Zrt (whose red mud reservoir burst last year causing the devastating toxic sludge spill) still owes it HUF 1.4bn it will be unable to provide energy this winter. The majority owner of Bakonyi Plant is Euroinvest, which is an interest of the Hungarian real estate mogul Sándor Demján. As the power plant can no longer finance its operations, it’s begun talks with the state-owned company.
