Magyar Telekom will cease providing residential electricity utility services on November 1.
In a statement, the company says that its customers will from that date be served by Démász, a provider belonging to National Public Utilities.
Magyar Telekom is one of the leading providers of broadband and pay-TV services in Hungary. It entered the country’s utility market in 2010 “with the objective to provide even more new services and offers to its customers”.
Broadband TV News notes that energy utility services accounted for only 11.24% of Magyar Telekom’s total revenues in the first quarter of this year.
Moreover, they were, at HUF1,580 million (€5.2 million), 31.7% lower than in the corresponding period in 2016.