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Hungary energy report

Hungary energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
67 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • ENERGY AND CLIMATE POLICY FRAMEWORK
  • ENERGY COMPANIES
  • ENERGY SUPPLY AND DEMAND
  • ENERGY USE AND PRICE BY SECTOR
  • ISSUES AND PROSPECTS
  • STATISTICS
  • ABBREVIATIONS
  • GLOSSARY

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Overview

Hungary’s energy strategy centres on achieving climate neutrality by mid-century, with nuclear and solar expansion driving decarbonisation. State control dominates the sector, while market liberalisation progresses alongside cross-border energy integration.

Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.

Highlights

  • The country targets 90% of carbon neutral power generation by 2030 and climate neutrality by 2050.
  • Coal and lignite power generation will be phased out by 2029 at the latest.
  • National companies have a dominant position: MVM for electricity production and transmission and MOL for oil and gas. E.ON is taking an increasing role in electricity distribution.
  • Carbon-free electricity production reached 69% in 2024, of which 42% is nuclear and 24% solar.
  • Solar capacity ranked first in 2024 with 7.7 GW.
  • Final energy consumption decreased rapidly between 2021 and 2023 (-6%/year) and remained stable in 2024. The share of oil and electricity in final consumption have increased by 6.5 and 3 points, respectively, since 2010.
  • Residential electricity and gas prices are over 60% lower than the EU averages.
  • Electricity and gas prices for industry remained very high despite a 16% drop for electricity in 2023.
  • Hungary is counting on nuclear (2.4 GW expansion of the Paks plant) to ensure its long-term electricity supply.
  • Electricity and gas interconnection projects are under development to diversify supply.
90%
of carbon neutral sources in the power mix in 2030
2029
phasing-out of coal power capacity
78%
share of Russia in natural gas imports (2023)

  • Energy & Climate Policy Framework

    A Ministry of Energy was established in 2022 and is now in charge of energy, climate policy, and environmental protection, this function was previously under the responsibility of the State Secretariat for Energy and Climate Policy within the Ministry of Innovation and Technology.

  • Energy Companies

    Electricity:

    MVM (100% state-owned) is the largest power generator with around 38% of the capacity (4.3 GW in 2024) and over half of production (20 TWh in 2024). The share of MVM in total generation has increased thanks to the acquisition in 2020 of the 944 MW Matrai lignite-fired power plant from Opus Global for HUF17.4bn (€4.8m).

  • Energy Supply & Demand

    Oil:

    Oil production, which is distributed over 6 production sites, covers around 18% of the country's needs (1.3 Mt in 2024). In 2023, Russia was the main oil supplier (49%), followed by Slovakia (12%) and Austria (8%). In May 2025, MOL and MVM signed an agreement to raise oil imports from Azerbaijan.

  • Energy Use and Price by Sector

    Energy Prices in Industry:

    In 2024, gas prices for industry dropped by 31% after a 16% decrease in 2023 and a steep 131% increase in 2022. Electricity prices for industrial users decreased by 21% in 2024 compared to 2023, nearly returning to their 2022 level, following a 22% increase in 2023 and a sharp 124% surge in 2022.

    Graph: Energy Prices in Industry (Taxes Included)

  • Issues & Prospects

    Gas:

    Gas production is expected to fall on a regular basis. According to ENTSOG's projections, gas demand should decline by 0.5%/year between 2020 and 2035 (and even by1-1.5%/year in more renewable-oriented scenarios.

  • Graph 1: Final Intensity to GDP
  • Graph 2: Primary Consumption Trends by Energy Source
  • Graph 3: Total Consumption Market Share by Energy (2024)
  • Graph 4: Installed Electric Capacity by Source
  • Graph 5: Installed Electric Capacity by Source (2024)
  • Graph 6: Gross Power Production by Source & Consumption
  • Graph 7: Power Generation by Source (2024)
  • Graph 8: CO2 Intensity of Electricity Generation
  • Graph 9: Crude Oil Production & Consumption
  • Graph 10: Petroleum Products Production & Consumption
  • Graph 11: Gas Production & Consumption
  • Graph 12: Coal Production & Consumption
  • Graph 13: GHG Emissions and CO2-energy Emissions
  • Graph 14: CO2-Emissions per Capita
  • Graph 15: CO2 Intensity to GDP
  • Graph 16: Final Demand Trends by Energy Source
  • Graph 17: Final Consumption by Sector
  • Graph 18: Final Consumption Market Share by Sector (2024)
  • Graph 19: Share of Electricity in Total Final Energy Consumption
  • Graph 20: Final Consumption in Industry by Energy Source
  • Graph 21: Energy Prices Including Taxes in Industry
  • Graph 22: Final Consumption in Transport by Energy Source
  • Graph 23: Energy Prices Including Taxes in Transport
  • Graph 24: Final Consumption in Residential, Services, Agriculture by Energy Source
  • Graph 25: Energy Prices Including Taxes in Residential
  • Graph 26: Upcoming New Capacity by Energy Source
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.

The Hungary energy market data since 1990 and up to is included in the Excel file accompanying the Hungary country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Hungary Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Hungary energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Hungary country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.