Our legal predecessor was Pécsi Hőerőmű Vállalat [Power Plant of Pécs], a company founded by the Minister of Heavy Industry in 1959. From the very beginning its main scope of activities included electricity and heat generation.
It was a significant event in the Company history spanning through the successive eras and a major technological renewal when the power plant and the mines were integrated in 1993 following a Government decision. As a result the still extractable parts of Mecseki Szénbányák [Coal Mines of Mecsek] under liquidation at that time as well as the assets necessary for the operation thereof, passed into the ownership of the Company. The sub-surface mine at Zobák Shaft operated until 31 December 2000 and the open-pit mines of Pécsbánya and Vasas until 31 December 2004.
The next important step in the history of the Company was the shift from coal fuel to natural gas after abandoning coal extraction. Subsequently, in the autumn of 2004 the implementation of a major investment project of HUF 7.5 billion was completed having converted two coal-fuelled boilers into gas- and oil-fuelled ones and one boiler into a woodchip-fuelled unit. Within the framework of the investment thousands of meters of gas and oil pipe line as well as several supporting facilities were installed by the EPC contractors.
On 7 May 2001 the name of the company changed to PANNONPOWER Energiatermelő, Kereskedelmi és Szolgáltató Részvénytársaság, then on 10 October 2003 to Pannon Hőerőmű Energiatermelő, Kereskedelmi és Szolgáltató. In June 2006 it became a private limited company.
Over the years the shareholders have changed as well. According to the current ownership structure 89.94% of the shares belong to Dalkia Energia Energetikai Szolgáltató Zártkörűen Működő Vagyonkezelő Részvénytársaság registered in Hungary with its official seat at 91-93 Budafoki Street, 1117 Budapest.