„Dear Members and Partners,
Referring to our previous consultations with the Hungarian Energy and Public Utility Regulatory Authority (hereinafter referred to as: HEA) on licensing issues related to BREXIT, here below we would like to inform you regarding the summary of the latest communication of HEA concerning this matter:
Due to the opinion of HEA, the limited electricity and natural gas trading licenses of those companies who have their registered seats in the United Kingdom shall remain in effect until the end of a so-called transitional period – presumably by the 31st of December, 2020.
If the United Kingdom, following the transitional period, remains a member of the European Economic Area, the conditions of licensing shall remain in place concerning the affected commercial licensees, therefore these companies shall not need to take any further steps on this matter.
Forasmuch there are still open questions, HEA is constantly monitoring the events, evaluating them, and should it decide to do so, inform the companies and organizations concerned on the necessary steps to be taken.
In the interest of completeness please find attached the translation of the entire letter of HEA.
Hungarian Energy Traders’ Association”
