Hungary: Nuclear energy still dominates Hungarian energy sector

31. May 2016. / SEE Energy News

On the other hand, the EU is pressuring Hungary to invest more in renewable energy, however there is low interest in investments in this field among companies.

Auditing company PricewaterhouseCoopers (PwC) said in the report that nuclear energy still has high political support in Hungary and with announced investment in the expansion of country’s sole nuclear power plant Paks it is expected that it will continue to dominate the Hungarian energy market in the future.

On the other hand, the EU is pressuring Hungary to invest more in renewable energy, however there is low interest in investments in this field among companies. According to PwC, the Government has strong influence on energy prices in Hungary and it has decreased energy bills for households by a cumulative 25 % in the last few years.

PwC noted that the political environment and the infrastructural landscape are conditions which are counteracting the transformation of the energy market, but a customer’s mindset has been named as a key factor. Since the standard of living in Hungary is still considerably lower than in Western Europe, affordability and low prices are crucial in both government decisions and meeting the needs of customers, transmits Serbia-energy.eu

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