Press Releases

Budapest, May 12, 2015 18:00

Magyar Telekom is goingto terminate its gas service for residential consumers eligible to universal service with effect fromJuly 31, 2015, following changes in the energy market environment. The termination of its residential gas service will have no impact on Telekom’s energy market activities in the business segment.

Telekom's goal through its energy services launched in 2010 has been to provide ever more new services and offerings to its customers. Through its discounted tariffs more favourable than the regulated universal prices, Telekom has contributed for the past five years to reducing the energy costs of its residential customers.

Due to changes in the energy market environment, Telekom has regularly reviewed its activities there and concluded that its business model with respect to residential customers was no longer sustainable in the future. As a result a decision has been reached to exit from the residential gas market with effect from July 31, 2015 ceasing the opportunity as of today to conclude any new contract on this service at Telekom.

Thechange will have no direct impact on the residential electricity service that will continue to be provided by Telekom. However, as with residential gas, the company will continue to regularly review its electricity business in light the changing market environment. The termination of its residential gas service will have no impact on Telekom’s energy market activities in the business segment.

Magyar Telekom ensures its gas service under the current terms and discounts until July 31, 2015. Following contract termination Telekom will send a final account to its customers.

It is of key importance for Telekom that the transition process be smooth for customers. For this purpose  the company has established a procedure ensuring the convenience of its customers as well as the continuity of their gas service, harmonized with the Energy and Public Utility Regulatory Authority and the energy market players concerned.

From August 1, 2015 the universal service provider FŐGÁZ Zrt, providing nationwide services and belonging to ENKSZ (First National Public Utilities), will be ready to provide gas service to all residential customers concerned. If customers intend to accept this procedure, they will have nothing to do about changing the service provider.

Those customers who intend to sign up for the service of other providerwill have to take care of their new gas contract to ensure service continuity for the period from August 1, 2015 by approaching their selected gas trader or universal service provider by June 30 the latest with the intention to sign up for the service.

All residential customers concerned will find full detailed information in Telekom’s contract termination notice. For further information they can visit the company’s www.energia.telekom.hu website or call its freephone number 06 80 204 569 established to enable smooth transition procedure.