Hungary Energy Supply Secure - Minister

Energy Trade

Image by Shutterstock.com

Hungary's energy supply is secure: the country's five big gas stores are full, Energy Affairs Minister Csaba Lantos told parliament's economy committee at a hearing on Tuesday, according to a report by state news agency MTI.

The government is maintaining the regulated utilities price scheme for households, Lantos told the MPs.

He said that Hungary's gas consumption had dropped more than the 15% European Union target, while electricity consumption had also declined. He added that it was still "realistic" for Hungary's economy to grow in spite of the decrease in energy consumption.

Addressing the transition to green energy sources, Lantos said more than 1,000 MW of solar capacity was added in Hungary last year and capacity was set to grow by over 1,500 MW this year. Solar capacity stands at 5,500 MW at present, including 3,300 MW at solar parks and 2,200 from home solar panels, he added.

He said a HUF 75 bln tender would be called in January for the installation of home solar panels together with battery storage systems.

Hungary needs to use the full range of its energy resources, including geothermal and wind energy as well as gas and oil, he said. He added that the distance from residential areas required for wind turbines was set to fall from 12 km to 700 m. 

Lantos said building 1,000-1,500 MW of wind farm capacity in Hungary would be "rational".

From January, water fees for businesses and institutions will be uniform across the country, he added.

ADVERTISEMENT

Insurers' Premiums Revenue Climbs 5% in 2023 Figures

Insurers' Premiums Revenue Climbs 5% in 2023

Fidesz-KDNP Nominates Constitutional Court Head for Presiden... Government

Fidesz-KDNP Nominates Constitutional Court Head for Presiden...

Wider Margins Lift Magyar Telekom Earnings Telco

Wider Margins Lift Magyar Telekom Earnings

Hungarians Prioritizing Travel Over Renovations This Year Tourism

Hungarians Prioritizing Travel Over Renovations This Year

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.