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New Market Report: Hungary Power Report Q4 2014

New Energy research report from Business Monitor International is now available from Fast Market Research


Boston, MA -- (SBWIRE) -- 10/29/2014 -- Power generation will rise by steadily over the ten-year forecast period, from 35.4 TWh in 2014 to 38.4TWh by 2023. Thermal energy will remain the single largest component in Hungary's power mix, and an expansion in of gas-fired electricity will constitute most of the expected rise in output. Meanwhile, consumption of power will rise by an average of 1.3% a year over the next decade, underpinned by a steady growth in the construction sector. The major background development will be massive investment in the Paks nuclear power station which will significantly expand production of nuclear power just beyond the ten-year forecast period to 2023 .

Key Trends And Developments

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- The government is continuing its policy of imposing administered cuts in the price of electricity. Following a 20% fall it 2013, a further cut of 5.7% is planned for September 2014. The brunt of these price reductions is being borne by energy providers, which are seeing their profitability fall as a result. Longer term, the state-owned energy holding company MVM intends to start selling power on a non-profit basis to force its major private competitors to maintain low prices.
- Plans are evolving for a significant expansion of Hungary's nuclear capacity. Following the signing of a deal in January with the Russian firm Rosatom to double the capacity of the Paks power plant from 2,000 to 4,000MW, parliament has approved a financing scheme whereby the Russian state will provide a loan of EUR10bn to cover 80% of the cost. However, the European Commission may mount a challenge to the legality of the contract since the government did not put the scheme out to public tender.
- Generation of gas-fired power continues to expand. In June, the Swiss based MET Power was given approval by Hungarian officials to acquire a minority stake in the Dunamenti power plant, a first step towards obtaining a majority stake in the operation and a probable increase in investment.
- For the moment,...

The Hungary Power Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering electricity generation (coal, gas, oil, nuclear, hydro and non-hydro renewables), electricity consumption, trade, transmission and distribution losses and electricity generating capacity.

The Hungary Power Report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing national and multinational operators by sales, market share, investments, projects, partners and expansion strategies.

Key Benefits

- Use BMI's independent industry forecasts for Hungary to test other views - a key input for successful budgeting and strategic planning in the power market.
- Target business opportunities and risks Hungary's power sector through our reviews of latest power industry trends, regulatory changes, and major deals, projects and investments in Hungary
- Assess the activities, strategy and market position of your competitors, partners and clients via our Competitive Landscape analysis.


BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis, covering power markets, regulatory changes, major investments, projects and company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the power sector, and within the broader political, economic and business environment.

Regional Overview

The Regional Overview provides a comparative context from within which one can assess the relative profitability of the power industry in a given country, incorporating BMI's country risk macro forecasts into our regional analysis. They also detail any relevant issues or events that might cause market fluctuations, as well as evaluate the impact of existing power infrastructure and fresh investments on the regional market.

BMI Industry Forecasts

The Industry Forecasts provide historic data series and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual power segment present in the country. These forecasts are in turn supported by explicit assumptions, in conjunction with analysis of the key risks to the main forecast. These in turn are broken down into:

Electricity Generation forecasts for Thermal, Coal, Gas, Oil, Nuclear, Hydro and Non-Hydro Renewables. For this section, we provide information on electricity generation (TWh), % growth year-on-year, KWh per capita, and the % of total electricity generation. The thermal fuels (coal, gas and oil) also have figures for their % of total thermal electricity generation.

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