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PannErgy kicks off geothermal district heating season and shares new prices in Hungary

Györ geothermal district heating plant, Hungary (source: PannErgy)
Alexander Richter 4 Oct 2019

Hungarian energy company PannErgy has officially kicked of the 2019-2020 district heating season and shared updated prices for its geothermal district heating plants of Szentlörinci Geothermal, Miskolci Geothermal, KUALA, and Arrabona Concession in Hungary.

In two releases, Hungarian Pannergy has announced the start of the district heating system and the updated prices.

After the planned annual reviews and summer maintenance works, PannErgy’s two significant geothermal energy production facilities, the Geothermal Systems of both Miskolc and Györ—in line with previous years—are making their maximum capacity available for the Company’s clients to meet increased demand for heat in the heating season.

Pursuant to legislation, the heating season starts on 15 September and finishes on 15 May. Based on the Operating Agreement made with the communities of residents, service providers automatically start district heating services on 15 September in case the mean outdoor temperature remains under 10°C for 1 day, or under 12°C for three consecutive days. The communities of residents may ask for deviation from the date of the automated startup of heating in case all the condominiums belonging to specific district heating center submit a written notice to this end to the district heating service provider.

In line with the foregoing, district heating services for the heating season of 2019 / 2020 was started by the service provider in Miskolc, MIHÖ Kft. and by the service provider in Györ GYÖR-SZOL Zrt. on October 3, 2019. In relation to district heating services, further up-to-date information are available at the websites of the respective service providers: www.miho.hu and www.gyor-szol.hu.

In a release earlier this week, the company also advised that in issue 161 of 2019 of the Hungarian Official Gazette (Magyar Közlöny) the Minister for Innovation and Technology published Decree 37/2019 (Sept 30.) of the Ministry for Innovation and Technology to announce the official rates for district heat production in effect from 1 October 2019, which also affect PannErgy’s subsidiaries that are subject to the central regulation of district heating rates, as follows.

Note: no guarantees are given on the numbers presented above.

Source: Company releases to the stock exchange