EU approves Hungary’s renewable support scheme

The European Commission has given the green light for Hungary’s new support scheme for renewable energy. The initiative, with a yearly budget of around €146 million (£129m) provides state support for green projects, either through a Feed-in Tariff or a price premium. Feed-in tariffs will be limited to small installations below 500kW and demonstration projects […]

Hungary’s energy efforts ‘strong but more competition needed’

The International Energy Agency (IEA) has praised Hungary’s efforts and highlighted the need for more competition in the sector. The country’s National Energy Strategy to 2030 aims to ensure a sustainable and secure energy sector while supporting the competitiveness of the economy. The IEA says it was successful in developing wholesale markets for gas and […]

EU clears Hungarian state aid for Russian-backed nuclear power plant

The European Commission has approved Hungary’s financial support for the construction of two new nuclear reactors. The Hungarian Government plans to provide funding for the 2,000MW Paks II nuclear power plant, replacing the four reactors currently operating at the Paks site which were built in the 1980s. It is also backed by Russia, with the […]

Budapest lent €100m for energy efficiency, green energy

A loan totalling €100 million (£74m) has been granted to Budapest to support improvements in the fields of energy efficiency and environmental protection. The cash will also be used by the Municipality of Budapest to implement schemes in other areas such as waste, water, renewables and regeneration. The projects are expected to contribute to the […]

EU probes funding for nuclear plant in Hungary

Hungary’s plans to finance the construction of two nuclear reactors will be investigated. The European Commission has opened an in-depth state aid investigation into the project called Paks II. It will analyse if a private investor would have financed the nuclear project on the same terms as Hungary’s state aid. If the project is found to involve […]

EU bank to support energy projects in Hungary

The European Investment Bank (EIB) is lending €500 million (£354m) to Hungary for projects in the areas of transport, energy and the environment. It is the first tranche of an approved loan of €1 billion (£0.7bn) to co-finance projects including flood prevention, waste, energy efficiency, renewal and distribution. The EIB funds will support investments in water, […]

Hungary’s appetite for US shale gas grows

Hungary has a keen appetite for American shale gas according to the nation’s Foreign Secretary Péter Szijjártó. On Tuesday he met with US officials to discuss Hungarian-American economic cooperation and Europe’s energy security. Mr Szijjártó said that allowing US natural gas exports to Europe would significantly enhance energy security for Hungary and Europe, according to […]

Hungary-Slovakia gas link to begin trials in 2014

A gas link more than 70 miles long connecting the networks of Hungary and Slovakia will begin trials in the middle of next year and start regular distribution in 2015 according to the Hungarian government. Peter Szijjarto, Hungary’s State Secretary for external economics made the announcement following a meeting of the Hungary-Slovakia joint economic committee […]

V4 leaders call on EU to diversify energy sources

Leaders from the Czech Republic, Hungary, Poland and Slovakia called for a diverse range of power sources in the EU, suggesting there should be “no discrimination” on the kinds of energy used. They showed their support for nuclear energy and said they expect the EU to help Central Europe increase its nuclear power capacity. The […]

Hungary ready to take gas plant off E.ON’s hands

Hungary will finally take back the gas power business it once sold to German energy giant E.ON next week. In March 2013 the Hungarian Government agreed to pay €870 million (£730m) to E.ON for two companies, the country’s largest gas supplier Földgáz Trade and storage services firm Földgáz Storage. About 250 people work at the firms […]