Hungary energy report

• The country targets 90% carbon neutral power generation by 2030 and climate neutrality by 2050.
• Rosatom will build two nuclear reactors, after the Government bypassed an international tender.
• National companies MVM, for electricity production and transmission, and MOL, for oil and gas, have a dominant position.
• E.ON is divesting its electricity distribution activities.
• Carbon free electricity reached 62% in 2019, of which 48% is nuclear.
• The country has increased its dependence on energy imports from Russia in recent years.
• Residential electricity and gas prices are around 50% lower than the EU averages.
• Total energy consumption has been rising by almost 2%/year since 2014.
• The share of oil in total consumption has increased by 5 points since 2010.
• 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.

• Institutions & Energy Policy

  The State Secretary for Energy and Climate Policy within the Ministry for Innovation and Technology oversees energy and climate policy.

  The Hungarian Energy and Public Utility Regulatory Authority (MEKH) is the independent agency in charge of regulating the electricity and gas sectors.

• Energy Companies

  Oil:

  MOL (State 15.24%, Maecenas Universitatis Corvini Foundation 10%, MOL Investment 8,08%, Oman Oil 7.14%)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 at end-2019), and hydrocarbons (6.7 bcm of reserves for gas and 4.5 Mt for oil at end-2019), also with high costs of exploration and production.

• Energy Prices

  Gas:

  Since 2013, gas prices for households and industry have been decreasing by 5%/year and 6%/year on average, respectively.

  Hungarian gas prices are much lower than the EU average (21% below for industry and 52% below for households in 2019).

  Graph: GAS PRICES FOR INDUSTRY AND HOUSEHOLDS (€c/kWh GCV)

• Energy Consumption

  Energy consumption per capita is 2.7 toe (13% below the EU average), including 4 200 kWh of electricity (24% below the EU average) (2019).

  Total energy consumption has been recovering since 2014 (+2%/year), nearing 26 Mtoe in 2019.

  Previously, total energy consumption declined by 10% between 2010 and 2013.

  Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)

• 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).

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Hungary energy market report graphs:

• GRAPH 1: CO₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2019, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2019, %)
• 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 (2019, %)
• GRAPH 10: Final consumption market share by sector (2019, %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2019, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2019, %)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2019, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2019, %)

In the Hungary energy market report you will find the following tables:

• 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 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.