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Hungary energy report

Hungary energy report
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Format
2 files (PDF report, Excel file)
Pages
39 (Report only)
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Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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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% carbon neutral power generation by 2030 and climate neutrality by 2050.
  • Coal power generation will be phased out by 2025.
  • National companies MVM, for electricity production and transmission, and MOL, for oil and gas, have a dominant position.
  • E.ON is taking an increasing role in electricity distribution.
  • Carbon-free electricity reached 63% in 2020, of which 46% 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 decreased by almost 2%/year since 2018.
  • The share of oil in total consumption has increased by 3 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.

48%

of nuclear in the power mix (2019)

2025

phasing-out of coal power capacity

80%

share of Russia in natural gas imports

  • Institutions & Energy Policy

    The State Secretariat for Energy and Climate Policy within the Ministry of Innovation and Technology oversees energy and climate policies.

    Created in 1994, the Hungarian Energy and Public Utility Regulatory Authority (MEKH) is the independent body 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

    Oil:

    Oil production, which is distributed over 6 production sites, covers around 14% of the country's needs (1.1 Mt in 2020 and 2021). Russia is the main oil supplier (60% in 2020), followed by Kazakhstan and Iraq.

  • Energy Prices

    Gas:

    Since 2013, gas prices for households and industry have been decreasing by 6%/year and 5%/year on average, respectively. In 2021, gas prices for households kept decreasing (-3%), whereas gas prices for industry soared (+82%) after a low point in 2020.

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

  • 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 decreased by 1.7%/year from 2018 to 2020 after a period of rapid growth between 2014 and 2018 (+4%/year).

    Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)

  • Issues & Prospects

    Electricity:

    New capacities are required to offset the closure of existing large power plants (-200 MW at Matrai, -406 MW at BERt and -410 MW at GTER by 2024, and -750 MW at Matrai by 2025).

    MAVIR will need to connect 5.5 GW by 2024 and 7.3 GW by 2030 to ensure power supply.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2020, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2020, %)
  • 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 (2020, %)
  • GRAPH 10: Final consumption market share by sector (2020, %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Oil consumption breakdown by sector (2020, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2020, %)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2020, %)
  • GRAPH 17: Coal consumption (Mt)
  • GRAPH 18: Coal consumption breakdown by sector (2020, %)
  • 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 report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.

Data included in the excelsheet:

  • New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
  • Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.