(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 5. On November 1, Hungary's MVM Group announced the launch of MVM ONEnergy Zrt., a new entity created through the integration of MVM CEEnergy's natural gas wholesale business and MVM Partner Zrt.'s electricity trading operations, Trend reports via the company.

Under the new structure, MVM Next Ltd. will continue to provide universal energy services to residential consumers without any changes. The reorganization does not affect MVM CEEnergy Ltd.'s upstream activities, which will remain under a separate company structure.

According to the Group, the new entity's commercial potential is underpinned by strong performance figures: MVM CEEnergy's total sales volume stood at 125 TWh in 2022, 117 TWh in 2023, and 153 TWh in 2024, while MVM Partner's electricity sales in the same years reached 136 TWh, 192 TWh, and 244 TWh, respectively.

MVM ONEnergy currently holds nearly 60 percent of Hungary's natural gas wholesale market and maintains a significant market presence across Central, Eastern, and Southeast Europe. The electricity generated by domestic power plants under MVM ONEnergy contracts accounts for almost 40 percent of Hungary's total gross consumption.

Beyond its domestic operations, MVM ONEnergy is active in 20 European countries and has access to 11 trading exchanges, positioning the company as one of the region's most dynamic integrated energy traders.

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