Government announces huge energy development programme

In the spirit of the end of the era of cheap energy and energy sovereignty, Gábor Czepek, Minister of State for Public Administration of the Ministry of Energy (EM), presented a huge long-term plan worth HUF 7000 billion at the Magyar Nemzeti Bank conference on 14 September in Budapest.

It was said: among other things

• 600-600 billion for electricity grid upgrades and green production lines,
• 800 billion for green industrial parks,
• 400-400 billion for business energy efficiency and residential energy efficiency,
• 300 billion for geothermal projects.

Moreover, the HUF 7,000 billion programme does not include projects that are already in the decision-making phase, it has been revealed.

Gábor Czepek explained that the first stage of independence is diversification, towards which steps have already been taken in the field of natural gas, for example, followed by the achievement of real sovereignty, which seems achievable by the early 2030s in the field of electricity:

They expect a series of "grandiose" long-term developments.