Overview of the hungarian energy sector

Abstract

Globalization has increased the role of world trade and transport. Oil is the number one source of energy for many industries, especially those based on motor-driven machines. The purpose of this paper is to give insight into the Hungarian energy sector situation and policy. Hungary is a small country with a relatively small amount of domestic energy resources. The Hungarian energy sector has often been determined by external factors and social needs in the past. Among the factors influencing the future of the country's energy sector is the need of society for reliable and secure energy and the country's efforts to overcome the vulnerability caused by energy shortages. Hungary's energy supply is highly dependent on Hungarian power plants, of which the Paks Nuclear Power Plant stands out, which accounts for 49 percent of total production. Like all countries' energy policy, Hungary will be most affected by environmental protection and world market prices. For the future, the primary goal is to secure a supply of national demand and reduce energy dependence. Keywords: energy sector; oil sector; renewable energy.