AERA and Hungarian Energy and Public Utility Regulatory Authority (MEKH) signed Memorandum of Understanding (MoU)

On 15 November, the Hungarian Ambassador to Azerbaijan Viktor Szederkenyi attended the meeting between Azerbaijan Energy Regulatory Agency (AERA) and Hungarian Energy and Public Utility Regulatory Authority (MEKH), hosted by AERA at its head office.

The chairman of the Board of AERA Samir Akhundov welcomed the guests and pointed out that the meeting will contribute to the strengthening of relations between Hungary and Azerbaijan, as well as the development of cooperation in the field of energy regulation.

Pal Sagvari, Vice President of the Hungarian Energy and Utilities Regulatory Authority (MEKH) expressed his appreciation to the AERA for organizing the meeting and informed him about the operations, responsibilities, and activities of authority he represents.

Later, Samir Akhundov, the Chairman of the Board of the AERA, and Pal Sagvari, Vice President of the Hungarian Energy and Public Utility Regulatory Authority signed the Memorandum of Understanding (MoU).

MEKH will help AERA to enhance this cooperation through the exchange of information in the field of energy and by exploring the opportunities of cooperation in the field of renewable energy sources and energy efficiency organizing high-level bilateral meetings, such as study visits, experts’ training, participation in conferences and workshops.

The Memorandum of Understanding (MoU) will be in line with the agreement reached at the first meeting of the Hungarian-Azerbaijani Intergovernmental Commission on Economic Cooperation Working Group on Energy between the governments of Azerbaijan and Hungary, held in Budapest in February 2020.

During that meeting, the sides expressed their eagerness to cooperate on energy issues and deepen the regulatory relations between the two countries.

About AERA

Azerbaijan Energy Regulatory Agency (AERA) regulates and inspects issues related to electricity, gas, and heat supply. Established with the Presidential Decree №1750 by the 22nd of December 2017, the Agency operates as a public legal entity under the Ministry of Energy of Azerbaijan.

About MEKH

Hungarian Energy and Public Utility Regulatory Authority (MEKH) was established in 1994 as Hungarian Energy Office. HEA regulates and supervises the activities of electricity, natural gas, district heating, and water public utility companies in Hungary, has the competence as regards price regulation of waste management, energy statistics, and consumer protection.