Hungary undertook an obligation to the European Union to comply with Directive 98/30/EC by opening up its internal natural gas market as of January 1st, 2004. Under the current regime, both providers and traders belong to the public utility sector, the private market as such does not exist at the moment. As of January 1st, 2004 Act XLII of 2003 on Natural Gas ("Gas Act") as the framework law and its accompanying governmental decrees (details of the regulated areas) will enter into force and as far as the eligible consumers are concerned a new, competing market will be created. The most significant changes of the new Act are the following:
- introduction of a new circle of licensee;
- new eligible consumers;
