Company

ELMŰ-ÉMÁSZ Company-Group 

The organisational restructuring due to legal requirements provided an opportunity for the Company to create a new corporate structure, which would ensure that expected market challenges were met even better. This structure required a total review of operational procedures, their adjustment to the new organisations and the development of comprehensive contractual systems between the new companies.

Based upon that fundamentally new concept and the operational experience accumulated in the meanwhile, competent agencies of the European Union defined conditions necessary for establishing a uniform European trade. In order to comply with EU requirements worded in European Parliament and Council Directive 2003/54/EK, Hungarian Act LXXIX of 2005 significantly amended Act CX of 2001 on electric energy (VET). The essence of the amendment was that electric power supplying companies previously operating in a uniform organisation had to perform a so-called unbundling, so that their activities concerning the network - separated from trade - could take place in a legally independent environment. Although the act only stipulated the separation as obligatory as of July 1 2007, the Company, in order to maintain the security of supply, started the development of the new model concerning its organisation in 2006. The new organisational structure started on January 1 2007.

As a result of the unbundling process, not only was the prescribed separation of trade and network performed successfully, but a complex, holding-style corporate structure was created that would probably constitute optimal new operational conditions. The new organisation operated jointly by ELMŰ Nyrt. and ÉMÁSZ Nyrt. is shown in the following figure.