"Hungary Power Report Q4 2015" Published

This quarter our view on the Hungarian power market remains largely unvaried, w e continue to expect p ower gener ation to steadily rise o ver the forecast period, from 34.03TWh in 2015 to 36.59 TWh by 2024 . We also expect t hermal energy to remain the single 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 by from 38.10TWh to 43.07TWh over the same timeframe, 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 the ten-year forecast period.

Key Trends And Developments

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Ereymentau Wind Power has launched a tender to award a turnkey contract for the construction of the 50MW Yereymentau wind project in Kazakhstan. The project is likely to be expanded to 300MW in the future. The winning bidder will be responsible for designing, supplying and installing wind turbines as well as building the required civil and electrical infrastructure, including a grid connection to an existing 220kV network. Interested parties are required to submit prequalification documents by September 21. The European Bank for Reconstruction and Development and the Clean Technology Fund will finance the project.

Plans to modernise the Paks nuclear power plant continue to progress. In May, the Russian state-owned nuclear company Rosatom signed a contract with the Hungarian government to build two reactors at the Paks nuclear power plant in Hungary. The company will set up units 5 and 6 at the plant. The units will feature Rosatom's VVER-1200 reactors, which are expected to have production capacity of 1,200MW each. Russia also provided a loan of up to USD11bn for the project and Hungary aims to repay the loan after the reactors start operating.

The Hungary Power Report features BMI Research'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

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