The present day Alpiq concluded its first energy-supply contract with the Hungarian Power Companies Ltd. (MVM) in 1996. Our company has long believed in the Hungarian market and its economic potential. Since our initial entry, we have developed into a significant market participant and one of the largest foreign energy traders.

To emphasise our company's long-term commitment to the Hungarian market, we acquired the Csepel Power Plant Complex in 2002 and became one of the major foreign investors in Hungary. Built in 2000, Csepel II was the first power plant in Hungary to be funded by private capital.

In September 2002, the predecessor to today's company (Atel Energia Kft.) was established in Budapest as a subsidiary of the Alpiq Group with the aim to create and expand a local operation in the liberalising Hungarian energy market and to serve as a hub for electricity trading in Central Europe.

In spring 2003, our group’s Hungarian operations obtained a trading license. This was an important milestone, as it enabled the company to immediately react to the partial market liberalisation and to be among the first ones to participate at border and production capacity auctions. The Alpiq Group’s international portfolio has strengthened market liquidity and contributed much to the development of an open Hungarian electricity market.

Besides electricity trading, Alpiq decided to strengthen its domestic Hungarian presence and increase sales in the run-up to full market liberalisation, which occurred on January 1, 2008. Through infrastructure developments and organisational restructuring, we satisfied all prerequisites to supply end customers in the industrial and services sector with tailor-made products.

Milestones

• First Atel energy supply agreements with Hungary, 1996
• Acquisition of Csepel II Power Plant, 2002
• Foundation of Atel Energia Kereskedő Kft. in Budapest, 2002
• Hungarian trading licence since 2003
• First electricity deliveries to eligible Hungarian customers
• Full electricity market liberalisation on 1 January 2008