Power producers, distributors and traders in Hungary generated pre-tax profit of HUF 176.9 billion (EUR 654.72m) in the first three quarters of 2009.
Power producers, distributors and traders in Hungary generated pre-tax profit of HUF 176.9 billion (EUR 654.72m) in the first three quarters of 2009, 14 pct up from the same period of 2008, the Hungarian Energy Office reported. However, universal providers furnishing electricity to retail consumers and utilities, acquiring power 10 HUF cheaper than the normal trading price, sustained pre-tax losses of HUF 7.4 billion in the first three quarters of 2009, compared to pre-tax profit of HUF 1 billion in the first nine months of 2008.
Power traders sold power at around HUF 25 per kW, while power producers sold them power at HUF 10, somewhat lower than the import price. Traders also posted a 81 pct yr/yr rise in pre-tax profit of HUF 56.6 billion in the first three quarters of 2009, whereas the almost wholly state-owned Hungarian Electricity Works (MVM) group produced a 51 pct increase in profit to HUF 41.8 billion.
