Hungary is the only EU country where households pay less for electricity than industry
Hungary’s unprecedented nuclear power shortage could open the door to a major overhaul of its electricity market and lead the country to seek help from Ukraine.
With the Danube at historic lows on 29 July, Hungary’s Paks nuclear plant began to power down. The country lost almost half of its electricity generation capacity, causing nighttime prices to surge as temperatures above 40°C kept power demand high.
“By that wall, you can see the water gauge that determines the current situation,” said Prime Minister Péter Magyar on a Wednesday site visit, noting that the plant could be shut down entirely if water levels continue to fall.
Hungary’s energy market is defined by a constant fight for low energy bills, a phenomenon known as Rezsiharc, or sometimes Rezsicsökkentés. Since socialist times, the ability to lower electricity bills could make or break a politician’s career.
