Even with modifications to cuts in utility costs, Budapest recorded the lowest average electricity price (9.4 euro cents/kWh) among EU capitals in October 2024 Contact online >>
Even with modifications to cuts in utility costs, Budapest recorded the lowest average electricity price (9.4 euro cents/kWh) among EU capitals in October 2024
Hungary''s energy consumption down by 16% in March 2023. Hungary''s energy needs were lower each month from April 2022 than a year earlier, and decreased at rates higher than 10% from September 2022 to March 2023 – except for February.
Gas and electricity consumption in Hungary continued to decline last year, the Energy Affairs Ministry said on Saturday, according to a report by state news wire MTI. Gas consumption reached around 8.5 billion cubic meters last year, falling 10.9% from 2022 and 23% from 2021, the ministry said.
Hungary plans to increase the share of renewable energy sources to at least 21 % within gross final energy consumption. The major drivers toward the 2050 target include renewable and nuclear electricity, as well as electrification of end-use sectors.
Gas consumption came to 8.5 billion cubic metres, down by 10.9 percent from 2022 and 23 percent less than in 2021. Electricity consumption declined by 4.7 percent in 2023 from the previous year. Households accounted for more than 3 billion cubic metres of the country gas consumption and business consumers for close to 5.5 cubic metres.
Gas consumption came to 8.5 billion cubic metres, down by 10.9 percent from 2022 and 23 percent less than in 2021.
Electricity consumption declined by 4.7 percent in 2023 from the previous year.
Households accounted for more than 3 billion cubic metres of the country gas consumption and business consumers for close to 5.5 cubic metres.
Hungarian families continue to pay the lowest prices in Europe for household energy, the ministry said, adding that just ten percent of households paid the higher, non-regulated price for gas, while 20 percent paid the higher price for electricity.
The ministry noted that gas volume in storage facilities was still over 86 percent, or 57 percent of annual consumption, adding that this storage level was more than double the European Union average.
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Hungary Total Energy Consumption
Energy consumption per capita is 2.5toe (12% below the EU average), including 4300 kWh of electricity (20% below the EU27 average) (2023).
Total energy consumption has decreased rapidly since 2021, by 7%/year to around 24 Mtoe in 2023. It decreased by 1.7%/year from 2018 to 2020 and rebounded by 4% in 2021; it grew rapidly between 2014 and 2018 (+4%/year).
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
View the detailed fondamentals of the market at country level (graphs, tables, analysis) in the Hungary energy report
Hungary Crude Oil Production
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