PwC: Nuclear energy still dominates Hungary’s energy sector

Competition

pixabay

As nuclear energy still receives strong political support in Hungary, with a big investment recently going into the upgrade of the country’s sole nuclear plant in Paks, nuclear energy is expected to continue to dominate the countryʼs energy market, PwC said in a report issued today.

At the same time, EU regulations are pressuring Hungary to increase its investment in renewable energy - something that might prove challenging, as there still appears to be a low willingness among customers to invest in renewables, the report added. 

According to PwC, politics have a strong influence on pricing in Hungary, with the government cutting the energy bills of households by a cumulative 25% in recent years. PwC named the political environment, the infrastructural landscape and consumer attitudes as market conditions counteracting the transformation of the energy market.

A key factor of the market is a customerʼs mindset, where sensitivity to high prices prevails in Hungary, according to PwC. Since the regional standard of living is below that of Western European countries, affordability is key in both government decisions and meeting the needs of customers, according to the report.  

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.