Energy

Energy Trade

Hungary to Buy Stake in Azeri Gas Field

Hungary has reached an agreement on acquiring a stake in Azerbaijan's Shah Deniz gas field, Minister of Foreign Affairs and...

Green Energy

Gov’t Awards Over HUF 62 bln of Home Solar Panel Subsidies

The government has taken decisions on the award of over HUF 62 bln of subsidies to 15,200 applicants for the...

Energy Trade

MET Group Wins TXF ‘Commodity Financing Deal of the Year’

Amsterdam-based financial market analysis company TXF awarded the Swiss-based energy company MET Group, which has Hungarian roots, with the "European...

Green Energy

Hungary Set to Become Leader in Green Energy Storage

Hungary aims to become a leader in green energy storage, Energy Affairs Minister Csaba Lantos said at a conference in...

Energy Trade

MOL Renovates Base Storing Strategic Kerosene Reserves

Hungarian oil and gas company MOL completed a HUF 1.2 billion renovation of its base in Kecskemét where 85pc of...

Energy Trade

Hungary Motor Fuel Prices Below Regional Average

Prices at the pump in Hungary are under the average in neighboring countries, weekly data released by the Central Statistical...

Green Energy

Alteo Revenue Down 26% in Q1

Revenue of listed alternative energy company Alteo fell 26% year-on-year to HUF 26.7 billion in the first quarter, an investor...

Green Energy

10,000 Applicants Awarded HUF 40 bln in Solar Panel Subsidies

So far, decisions have been made regarding the award of more than HUF 40 billion in subsidies to over 10,000...

Energy Trade

MOL and O&GD Discover New Oil Reserve Near Tura

MOL and O&GD have discovered a new oil reserve near the town of Tura (about 44 km northeast of Budapest)...

Energy Trade

Motor Fuel Prices Fall Below Avg in Neighboring Countries

Prices at the pump in Hungary have fallen under the average in neighboring countries, weekly data released by the Central...

Energy Trade

Government Acknowledges Drop in Motor Fuel Prices

National Economy Minister Márton Nagy said motor fuel price reductions announced on Wednesday would bring prices at the pump down...

Energy Trade

Fuel Prices Move Closer to Avg of Neighboring Countries

Prices at the pump in Hungary have moved closer to the average in neighboring countries, according to weekly data released...

Power

Hungarians Aware of Reasons Behind Power Outages, Expect Rapid Solutions

A recent nationwide survey conducted by E.ON clearly shows that respondents’ highest priority is the continuous supply of electricity. Typically,...

Power

Production of Paks II Reactor Vessel Starts

The production of a reactor vessel for the expansion of Hungary's Paks nuclear power plant has started in Saint Petersburg,...

Green Energy

Gov’t Awards Over HUF 20 bln of Home Solar Panel Subsidies

The government has awarded HUF 20.7 billion of subsidies to over 5,100 applicants for the installation of home solar panels...

Energy

Large-scale Energy Storage Enters Center Stage

The role of storage in Hungary’s energy supply system was neglected for far too long. Now things are moving fast,...

Green Energy

MOL Opens HUF 2.7 bln Biomethane Unit in Szarvas

Hungarian oil and gas company MOL inaugurated a new HUF 2.7 billion biomethane unit at its biogas plant in Szarvas,...

Energy

EU Funding Upgrades the Electricity Grid, the Foundation of the Future Energy System

The energy transition’s next phase is about delivering renewable electricity where and when it is needed. That requires greater grid...

Green Energy

Geothermal Energy: ‘Enormous’ Potential in Europe Still Awaiting Full Exploitation

Hungary boasts modest progress in exploiting geothermal energy at the Budapest summit, while experts highlight many conundrums hampering development across...

Energy Trade

E.ON Launches HUF 230 bln Grid Upgrade to Support Hungary’s Energy Transition

E.ON Hungária Group has launched a nearly HUF 230 bln electricity network development program that will create 2,323 MW of...

Green Energy

Futureal Expands in Finland With 3 GW Renewable‑energy Portfolio

Futureal Energy Partners has partnered with Finnish renewable-energy developer Aurinkokarhu Oy to advance a 3 GW portfolio of solar, battery...

Green Energy

Battery Storage Fleet Delivers Up to 1,000 MW to Support Evening Power Demand

Hungary’s rapidly expanding battery storage fleet is becoming a critical tool for balancing the power grid, shifting cheap daytime electricity...

Hungary Still EU’s Largest Buyer of Russian Pipeline Gas

Despite reducing its Russian pipeline gas purchases by 10%, Hungary remained the European Union's largest buyer in the first eight...

Large-scale Energy Storage Enters Center Stage

The role of storage in Hungary’s energy supply system was neglected for far too long. Now things are moving fast,...

MOL Opens HUF 2.7 bln Biomethane Unit in Szarvas

Hungarian oil and gas company MOL inaugurated a new HUF 2.7 billion biomethane unit at its biogas plant in Szarvas,...

EU Funding Upgrades the Electricity Grid, the Foundation of the Future Energy System

The energy transition’s next phase is about delivering renewable electricity where and when it is needed. That requires greater grid...

Geothermal Energy: ‘Enormous’ Potential in Europe Still Awaiting Full Exploitation

Hungary boasts modest progress in exploiting geothermal energy at the Budapest summit, while experts highlight many conundrums hampering development across...

E.ON Launches HUF 230 bln Grid Upgrade to Support Hungary’s Energy Transition

E.ON Hungária Group has launched a nearly HUF 230 bln electricity network development program that will create 2,323 MW of...

Naftogaz, MOL Sign MoU on Fuel Storage in Hungary for Ukraine

Ukraine’s Naftogaz has signed a memorandum of understanding with Hungary’s MOL to explore developing petroleum product storage facilities near the...

Hungary Can Secure Gas Supply Without Russian Imports, Kapitány Says

Hungary could secure its gas supply without Russian imports by October 2027 if current conditions hold, Economy and Energy Minister...

E.ON Installs Four Battery Storage Systems to Support Solar Power and Grid Stability

E.ON Hungária Group has installed four battery storage systems with a combined output of 4 MW and storage capacity of...

MVM Introduces Dynamic Electricity Tariff

From Sep. 1, households and microbusinesses under universal service can voluntarily switch to energy company MVM's new dynamic tariff, which...

Paks Output Tops 800 MW as Record Drought, Heatwave Ease

Output at Hungary's Paks nuclear power plant rose above 800 MW on Sunday as conditions began to improve following the...

Hungary Targets Tenfold Expansion in Wind Power Capacity by 2030

Hungary’s long-stagnant wind energy sector could be set for significant expansion under a government package aimed at increasing installed capacity...

Futureal Expands in Finland With 3 GW Renewable‑energy Portfolio

Futureal Energy Partners has partnered with Finnish renewable-energy developer Aurinkokarhu Oy to advance a 3 GW portfolio of solar, battery...

Battery Storage Fleet Delivers Up to 1,000 MW to Support Evening Power Demand

Hungary’s rapidly expanding battery storage fleet is becoming a critical tool for balancing the power grid, shifting cheap daytime electricity...

Budapest Rooftops Could Generate 2.5 Times Paks Output, Mayor Says

Budapest rooftops could potentially generate energy equivalent to 2.5 times the output of the Paks nuclear power plant through solar...