Hungary suspends EMFESZ gas trading licence.

By bne IntelliNews January 6, 2011
The Hungarian energy regulator suspended the trading licence of natural gas trader and distributor EMFESZ for a 90-day period effective January 13, the company said in a statement on its website. The licence was suspended on outstanding debts to other companies, while the company also has to collect significant receivables. The company said it will work on having its licence reinstated in Q1. The revoked licence relates to the companys sales operations, but will not affect the gas supply to customers. EMFESZ is owned by Swiss RosGas and controls about one-fifth of the domestic gas distribution market. Emfesz sells gas to 300,000 retail consumers, 300 local councils, 1,100 institutional consumers, 6,000 SMEs and several hundred industrial companies, news agency MTI said.
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