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Energy

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Decarbonization Could Be Solution to the Energy Crisis

D&T
Jun 15, 2022

The energy crisis strengthens the need for security of supply, and pursuing decarbonization targets is a good way to increase energy independence. That is according to János Péter Horvát, the President of the Hungarian Energy and Public Utility Regulatory Authority (HEA). In a presentation at a joint online conference of the Hungarian Economic Society and […]

MOL Launches the Production of Green Hydrogen

D&T
Apr 27, 2022

The Hungarian oil and gas company MOL builds one of the largest capacity green hydrogen plants in Europe in Százhalombatta, just south of Budapest. This investment of EUR 22 million allows MOL to produce 1,600 tons of green hydrogen annually with the help of renewable electricity and enables about 25,000 tons of CO₂ saving. MOL […]

Hungarians Want to Get Rid of Russian Energy Dependence

D&T
Apr 20, 2022

More than three quarters of Hungarians believe that the country should produce its energy needs at home and not depend on other countries, especially Russian gas, according to a recent opinion poll commissioned by Greenpeace and conducted by the Policy Solutions Institute and ZRI Závech Research in the last week of March. Greenpeace therefore expects […]

V4 Energy Ministers Discuss Hydrogen in Budapest

D&T
Feb 8, 2022

Energy ministers of the Visegrad Group - the Czech Republic, Hungary, Poland and Slovakia - discussed the planning and establishment of a European hydrogen ecosystem at a meeting in Budapest on Tuesday. At the first V4 working meeting, the countries of the group shared their views on the creation and design of a European hydrogen […]

HUN-UA Gas Transmission System Test Period Prolonged

D&T
Jan 25, 2022

As a result of continuous negotiations between FGSZ Ltd., the the owner and operator of the Hungarian high-pressure natural gas pipeline system, and its Ukrainian partner, Gas TSO of Ukraine, the test period of Q1 2022 - according to which firm gas transmission capacities have been created in the HU>UA direction from January – has […]

Electricity Generation and Consumption Records Broken

D&T
Jan 19, 2022

Gross system load and annual gross electricity consumption peaked last year, and solar power generation also exceeded previous records, according to a summary published on the website of Mavir Hungarian Independent Trans­mission Operator Company Ltd. on Wednesday. According to the data, the record for electricity consumption in Hungary was broken on December 9 last year, […]

Ukraine to Import Gas from the EU through Hungary

D&T
Dec 22, 2021

Hungary has reached an agreement with Ukraine to supply natural gas to its northeastern neighbor with guaranteed capacity from January 1 next year, Serhiy Makokhon, CEO of the Ukrainian Gas Transmission System (HTS) has announced. The Ukrainian side signed a cooperation agreement with the Hungarian gas transport company FGSZ on the guaranteed supply capacity. Under […]

Shell Acquires LNG Filling Station in Hungary

D&T
Dec 21, 2021

Shell's goal in Hungary is to deliver more and cleaner and cleaner energy solutions together with its customers and society. To expand its domestic fuel portfolio, Shell Hungary Plc. has acquired an LNG filling station along the M0 motorway. This is planned to be the first such station in its national network of filling stations […]

Hungary's Winter Gas Supply Secured

D&T
Oct 13, 2021

Hungary's winter natural gas supply is secured, the more than five billion cubic meters of natural gas stored in gas storage facilities until 30 September will safely cover domestic demand, the Hungarian Energy and Public Utility Regulatory Authority (HEA) told the state news agency MTI on Wednesday. The Authority said that every year, they check […]

Solar Panel Park Inaugurated in Öskü

D&T
Oct 12, 2021

A solar farm was inaugurated on Tuesday in Öskü, Veszprém county, W Hungary. The ten-megawatt power plant will provide electricity for more than five thousand families. Attila Steiner, Minister of State for the Development of the Circular Economy, Energy and Climate Policy of the Ministry of Innovation and Technology, stressed at the inauguration ceremony that […]

Record Power Consumption in the Heatwave

D&T
Jun 23, 2021

Domestic electricity consumption has soared to record levels in the heatwave, and in the coming days the summer peak load on the Hungarian electricity system could be broken again, the financial website portfolio.hu reports. Looking at the summer of 2021, it was for the first time this Monday at noon that the national system load […]

Further Growth in Renewable Energy Production

D&T
Jun 20, 2021

The Hungarian Energy and Public Utility Regulatory Authority (HEA) has published its report summarizing the preliminary energy statistics of last year. According to the report, Hungary continues to rely heavily on imports, but solar power generation has increased significantly. As the report points out, a significant part of Hungary's primary domestic energy use was provided […]

Outstanding First Quarter Results at ALTEO

D&T
May 17, 2021

In the Management’s opinion, Q1 2021 results have massively confirmed ALTEO’s strategy along with the successful investment projects of the recent period. As results for 2020 also showed, the COVID pandemic still has only moderate impact on ALTEO’s profitability compared to other, more pro-cyclical sectors, thanks in part to the protective measures put in place […]

Geothermal District Heat Generation Project in Budapest

D&T
Apr 4, 2021

The Budapest district heating company FŐTÁV and the Icelandic group Arctic Green Energy have signed a cooperation agreement for the construction of geothermal district heat generating units. The project may save up to 21,000 tons of CO2 emission a year in Budapest. The first large scale (up to 10-20 MWh) geothermal project is to be […]

Old Hydro Plant Renovated by ALTEO

D&T
Dec 14, 2020

ALTEO Plc. has completed the renovation of the Gibárt Hydroelectric Power Plant, which has been operating as a monument for more than 100 years, in order to ensure the further long-term, reliable and economical operation of the power plant. The company renovated and modernized the power plant with an investment of HUF 1.2 billion, during […]

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