Energy

Power

Energy Revolution on the Brink, 1st Budapest Hydrogen Summit Told

The first Budapest Hydrogen Summit was held on March 10, bringing together the bosses of leading companies in Hungary and...

Green Energy

Hungary seeks to shift energy mix to nuclear, solar

Hungary wants to shift its energy mix toward nuclear and solar power over the next 10 years, Prime Minister Viktor...

Energy Trade

MOL selling U.K. assets to Waldorf Production

Hungarian oil and gas company MOL yesterday said it agreed to sell all of its upstream assets in the United...

Green Energy

Green Genius, Polenergia team up for Lithuanian offshore wind tender

Renewable energy developer Green Genius, part of Lithuania's Modus Group, and Polish energy company Polenergia SA have signed a cooperation...

Energy Trade

MOL board proposes dividends of around HUF 300 per share

The board of Hungary's MOL will propose to shareholders payment of a dividend on last year's earnings of around HUF...

Energy Trade

Szijjártó dismisses speculation over Bulgaria-Gazprom transit fee dispute

Minister of Foreign Affairs and Trade Péter Szijjártó has dismissed as "fake news" speculation in the media that a dispute...

Energy Trade

Croatia’s INA starts gas production from new Adriatic well

Croatian oil and gas company INA said on Thursday it has started natural gas production from a new well on...

Green Energy

Hydrogen revolution on our doorstep – 1st Budapest Hydrogen Summit organized with great success

Although it has been around for decades, climate goals gave a new momentum for hydrogen technology that enjoys renewed and...

Energy Trade

Sanctions will not be extended to energy, Orbán says at EU summit

Prime Minister Viktor Orbán said sanctions against Russia will not be extended to energy in a video message posted on...

Green Energy

German Berenberg Bank finances 65.2-MW solar park 

Germany's investment bank Berenberg has said it is financing a solar project in Hungary. Germany's Greencells Group is developing the...

Power

Hungary calls 5th tender for feed-in tariffs

The Hungarian Energy and Public Utilities Regulatory Office (MEKH) on Friday announced its fifth tender for feed-in tariffs for energy...

Energy Trade

Ukraine Crisis: OMV considering Nord Stream 2 involvement

Vienna-based oil and gas company OMV has told the Budapest Business Journal that gas supply to Austria is being maintained,...

Power

Electricity consumption 4.6% higher in January

Gross electricity consumption in Hungary was 4.6% higher in January compared to the same period of last year, while domestic...

Green Energy

Alteo earnings rose to HUF 5.9 bln last year

Net income of listed alternative energy company Alteo rose by a factor of close to 10 to HUF 5.9 billion...

Power

Paks II project advancing ‘according to plan’

Work on the upgrade of Hungary's Paks nuclear power plant is "proceeding according to plan", the local unit of Russia's...

Energy

Energy Transition Puts Grid Investment, Regulatory Reform in Focus

Hungary’s next energy challenge is integrating its expanding renewable capacity into a reliable, flexible electricity system. E.ON’s Guntram Würzberg discusses...

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...

Energy Transition Puts Grid Investment, Regulatory Reform in Focus

Hungary’s next energy challenge is integrating its expanding renewable capacity into a reliable, flexible electricity system. E.ON’s Guntram Würzberg discusses...

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...