Recently published research from Business Monitor International, "Hungary Power Report Q1 2015", is now available at Fast Market Research
[USPRwire, Mon Jan 19 2015] Power generation will rise steadily over the forecast period, from 35.9 TWh in 2015 to 38.8 TWh by 2023. Thermal energy will remain the sin gle largest component in Hungary' s power mix and an expansion of gas-fired electricity will constitute most of the expected rise in output. Meanwhile, consumption of power will rise from 37.9TWh to 42.6TWh, underpinned by a steady growth in the construction sector. The major background development will be massive investment in the Paks power station , which will significantly expand production of nuclear power just beyond 2023.
* The government cut the cost of electricity by 5.7% in September to EUR0.08 KW/h and is committed to further cuts in energy prices to lower the cost of doing business in Hungary.
* Hungary remains exposed to an escalation in EU-Russian tensions over Ukraine. On the upside, Russia has resumed gas deliveries to Ukraine, forestalling the risk of a suspension in onward deliveries to Hungary, which might otherwise have compromised its gas-fired power stations. Supplies of nuclear fuel via air have allowed Hungary to upgrade to Russian nuclear fuel, as of October 2014. On the downside, the US is putting pressure on Hungary to re-think its plans to allow the Russian firm Rosatom to upgrade the Paks nuclear power plant, potentially delaying its development.
* Meanwhile, following a change in the law in Ukraine and an inter-governmental agreement in September between Budapest and Kiev, Hungary has started to supply the Burshtyn power plant in Western Ukraine with electricity along the two countries' 750kV power transmission line.
* In November 2014, Magya r Villamos Muvek (MVM) began talks with the Italian firm Enel to buy a 66% stake in the Slovakian Electricity Works, Slovenske Elektrarne. This is consistent with the government's ambitions for MVM to expand beyond Hungary's borders and could underpin the government's proposed switch to being a non-profit...
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.
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