Hungary energy report

• The country targets a 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% of 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 its 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

  Gas:

  Gas production is decreasing rapidly and reached 1.7 bcm in 2019 (4.9 bcm in 1990 and 2.9 bcm in 2010). This production represents nearly 26% of its gas needs.

• Energy Prices

  Electricity:

  In euros term, residential electricity prices increased by 20% in 2020, due to the depreciation of the HUF, after a 4%/year decline since 2012.

  Industrial prices have been decreasing on average by 5%.

  Industrial and residential electricity prices doubled between 2000 and 2010

• 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 energy market data since 1990 and up to 2018 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).