Energy Market: Hungarian Firms May Face a Difficult Fall

Energy costs account for 4–10% of the total operating costs of domestic small and medium-sized enterprises (SMEs), while Hungarian companies pay one of the three highest gas prices in Europe.

Amid market uncertainties and rising prices, flexible consumption and energy storage may offer a solution, SME Sales Manager at E.ON Energy Solutions, Sándor Szalai explained at the event titled “Domestic Businesses on the Rise 2026.” Energy costs are no longer simply an expense line item in the lives of businesses, but rather a key factor in competitiveness, as revealed during the energy market panel discussion that followed the presentation.

Sándor Szalai explained that since the outbreak of the Russia-Ukraine conflict and the restructuring of the energy sector, energy prices have become extremely volatile. Natural gas prices have recently begun a steep rise unprecedented since the 2022 energy crisis, and current prices are already approaching the levels seen in December 2022. This is partly due to the relatively low storage levels – currently around 70% – which are generating sustained demand in the market, while no expansion is expected on the supply side.

Electricity prices are also following the rise in natural gas prices. Electricity prices recently reached the EUR 150–151/megawatt-hour (MWh) level, representing a price increase of nearly EUR 30 in a single month. According to the expert, this trend will certainly not change until mid-September. During the fall, the low capacity of the region’s hydroelectric power plants, as well as potential cooling difficulties at the Paks Nuclear Power Plant due to the low Danube water levels expected in October (similar to the situation in 2018), could pose further risks, which may drive up prices in the Balkans and in Hungary.

In the energy market panel discussion following the presentation – a summary of which was published by the financial portal portfolo.hu –, Kristóf Kovács, energy manager at ALDI Hungary, stated that predictability is a key issue. The company consumes a significant amount of electricity, so it purchases energy in advance for several years, in multiple installments, to mitigate the risk of price fluctuations. In addition, the stores continuously monitor major energy consumers, such as refrigeration, lighting and temperature. The goal is to make existing equipment operate more efficiently and, where necessary, replace it with more modern technology.

László Petis, CEO of IL-PE Ltd. believes that flexibility is vital in energy-intensive industries. It makes sense to organize production where energy is available at a lower cost, even if that means working on weekends. In his view, measurement is the first step: consumption must be broken down according to machines and time periods because only then can one decide when it is worth purchasing energy at a fixed price or at a variable market price.

According to Dávid Boross, managing director of Oázis Horticultural Ltd., not every business can adjust its operations to energy prices. While the operating hours of a retail chain are fixed, significant savings can be achieved by coordinating heating, cooling, solar panels and automated controls. Their goal is to reduce unused energy.

Gergely Lakatos, managing director of Rockwood Quantum, was of the view that energy management should be treated not as a cost but as an opportunity for development. This requires the coordination of customized solutions, storage systems, solar panels, and smart controls.

According to Kristóf Lengyel, director of the energy division at Pannon Building Workshop Ltd., there is no one-size-fits-all solution for every company. Good decision-making is based on data: the analysis of bills, meters and consumption curves. Businesses must first invest knowledge and time because only then can they determine which investments will yield real savings.