Electricity in Hungary in 2023/2024

As of the time period from November 2023 to October 2024, Hungary's electricity consumption features a noteworthy balance between low-carbon and fossil energy sources. Low-carbon electricity, in fact, comprises nearly half of the country's total electricity generation. Of this, nuclear power alone accounts for almost a third, while solar energy makes up a modest yet significant portion. However, nuclear and solar dominance is complemented by minor contributions from wind and biofuels, collectively summing up low-carbon efforts. Fossil energy still holds a considerable share, contributing around a fifth, with gas and coal as the main sources. Interestingly, net imports constitute nearly one third of Hungary's electricity consumption, emphasizing a reliance on external sources to supplement domestic energy needs.

Suggestions

To augment its low-carbon electricity generation, Hungary could consider expanding its already considerable nuclear and solar capabilities. The country has much to learn from other nations, especially those with similar contexts. For instance, neighboring Slovakia derives a substantial 60% of its electricity from nuclear energy. France is particularly exemplary, generating a commanding 67% of its electricity from nuclear sources. Meanwhile, high percentages of wind-generated electricity in countries like Denmark and Uruguay showcase the potential for wind energy in regions with compatible conditions. Drawing from such examples, Hungary could benefit by leveraging both geographical and technological potentials to increase its sustainable energy production, providing a cleaner, self-sufficient energy future.

History

Historically, Hungary has witnessed significant strides in the expansion of low-carbon electricity, particularly during the 1980s. The early years of that decade marked robust growth in nuclear electricity generation, with notable increases each consecutive year. However, a decline occurred in 2003, where nuclear production decreased considerably, though it rebounded in the following years with incremental progress. The recent decade, however, has seen the rise of solar energy, initially modest in 2019, and gaining momentum to become a notable part of Hungary’s energy matrix by 2023. Unfortunately, the most recent period from 2023 to 2024 has experienced a dip in both nuclear and solar production. Historically rooted in nuclear strength and solar potential, there is significant room for Hungary to reinvigorate and diversify its low-carbon portfolio moving forward.

Electricity Imports and Exports

Balance of Trade

Maximum Imports

Data Sources