- Update
-
- Format
- 4 files (PDF report, 3 Excel files)
- Pages
-
40 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
Buy Hungary energy report
Price without VAT. Depending on your statute and location, VAT might be applicable. Get in touch with us for more information.
After validation, you will immediately receive 4 files by email (one pdf report and 3 excel files containing the datasets).
Overview
This analysis includes a comprehensive Hungary energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
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 2025.
- 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 67% in 2023, of which 45% is nuclear and 20% solar.
- The solar capacity ranked first in 2023 with 4.2 GW.
- 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.
- Total energy consumption has decreased rapidly since 2021 (-7%/year).
- The share of oil in total consumption has increased by 7 points since 2010.
- Hungary is counting on nuclear (2.4 GW expansion of the Paks plant) to ensure its long-term electricity supply.
- MVM plans to extend the Paks nuclear power plant by 20 years, up to the 2050s.
- Electricity and gas interconnection projects are under development to diversify supply.
Institutions & Energy Policy
The State Secretariat for Energy and Climate Policy within the Ministry of Innovation and Technology oversees energy and climate policies.
MEKH, the Hungarian Energy and Public Utility Regulatory Authority, is the independent body in charge of regulating the electricity and gas sectors.
Energy Companies
Oil:
MOL (MOL New Europe Foundation 10%, Maecenas Universitatis Corvini Foundation 10%, Mathias Corvinus Collegium Fundation 10%)is the national oil company; its activities range from exploration-production to refining and distribution. MOL owns a 49% share in the Croatian oil company INA.
Energy Supply
Resources:
Hungary has some energy reserves: coal and lignite, with high and increasing cost of extraction (276 Mt of coal and 2.6 Gt of lignite), and hydrocarbons (5.4 bcm of reserves for gas and 2 Mt for oil at end-2023), also with high costs of exploration and production. The country has the highest geothermal potential in Europe (installed thermal capacity of 350 MWth with 8 000 drillings).
Energy Prices
Gas:
In 2023, gas prices for industry dropped by 16% after skyrocketing by +131% in 2022. Gas prices for households increased by only 5%/year over 2021-2023. Between 2013 and 2021, gas prices for households and industry decreased by around 5%/year on average.
Energy Consumption
Energy consumption per capita is 2.5 toe (12% below the EU average), including 4300 kWh of electricity (20% below the EU27 average) (2023).
Total energy consumption has decreased rapidly since 2021, by 7%/year to around 24 Mtoe in 2023. It decreased by 1.7%/year from 2018 to 2020 and rebounded by 4% in 2021; it grew rapidly between 2014 and 2018 (+4%/year).
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: CO2-energy emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2023, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2023, %)
- GRAPH 5: Gasoline & diesel prices (€/l)
- GRAPH 6: Electricity prices for industry and households (€c/kWh)
- GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
- GRAPH 8: Consumption trends by energy source (Mtoe)
- GRAPH 9: Total consumption market share by energy (2023, %)
- GRAPH 10: Final consumption market share by sector (2023, %)
- GRAPH 11: Oil consumption (Mt)
- GRAPH 12: Oil consumption breakdown by sector (2023, %)
- GRAPH 13: Electricity consumption (TWh)
- GRAPH 14: Electricity consumption breakdown by sector (2023, %)
- GRAPH 15: Natural gas consumption (bcm)
- GRAPH 16: Gas consumption breakdown by sector (2023, %)
- GRAPH 17: Coal consumption (Mt)
- GRAPH 18: Coal consumption breakdown by sector (2023, %)
- 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.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.
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.