Hungary has taken another step forward in its plans to expand the Paks nuclear power plant, as production begins on key components for two new reactor units. In Russia, fabrication is underway on the reactor vessel for Unit 6, while in France, the first parts of the turbine for Unit 5 are now being manufactured. […]
Hungary leads the world in solar power share as global renewables surge Read More »
A new report from the energy think tank Ember on global electricity trends in 2024 highlights Hungary as the leading country in terms of solar energy share, with solar accounting for 25 percent of its total electricity production. This pushed Hungary ahead of both Chile and Greece, which each had a 22 percent share. In
Hungary: March 2025 sees significant drop in electricity prices on HUPX day-ahead market Read More »
In March 2025, the average electricity price on the day-ahead market of the Hungarian energy exchange HUPX dropped significantly, reaching 108.9 euros/MWh. This marks a 31% decrease compared to February’s average baseload price of 158.88 euros/MWh. The average peak price on the HUPX day-ahead market also saw a notable decline, falling by 40% to 100.61
Hungary: MOL proposes total dividend of 0.68 euros per share for 2024 Read More »
Hungarian oil and gas company MOL has announced that its Board will recommend a total dividend of approximately 0.68 euros per share at the upcoming annual general meeting on April 24. This dividend proposal includes a base dividend of 0.41 euros per share, derived from the company’s 2024 earnings, along with a special dividend of
Serbia: Oil pipeline to Hungary set to boost diversification and lower costs by 2027 Read More »
Serbian President Aleksandar Vučić has announced that the design phase for the new oil pipeline to Hungary will be completed by the third quarter of this year, with construction slated to begin in the fourth quarter. The pipeline is expected to be fully operational by the first quarter of 2027, with an investment estimated at
Hungary: MOL completes acquisition of O&GD’s gas fields in Bekes County Read More »
MOL, Hungary’s leading oil and gas company, has announced the successful acquisition of O&GD’s gas fields near Endrod in southeastern Hungary, including the associated infrastructure. The site spans approximately 1,000 square kilometers and contains 29 active wells, currently producing hydrocarbons with a daily output of about 1,000 barrels. This acquisition is expected to significantly contribute
Hungary inks deal with Belarus to help build nuclear reactor Read More »
Hungarian Foreign Minister Peter Szijjarto said that the government signed an accord with Belarus to help build Hungary’s second nuclear plant. Nuclear power plant Paks 2 has been under construction by Russia’s Rosatom since 2014. The Russian company is building two reactors with a capacity of 1.200 MW each in central Hungary. -Of great importance
Hungary to develop green transition action plan Read More »
Hungary is committed to supporting the production of technologies that promote the production and use of green energy, Minister of Economy Marton Nagy said at a high-level meeting about the implementation of the net-zero emissions industry regulation in Brussels. He added that green re-industrialization could be the main driver of Hungarian economic growth in the
Hungary and Greece are global leaders in solar energy production Read More »
Hungary has the third-highest share of solar energy in electricity generation in the world, according to a recent annual report by the international think tank EMBER. Based on their data, Chile generated the largest share of electricity from solar power last year, with 19.9 percent, followed by Greece with 19 percent, and Hungary came in third
