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Hungarian regulator says electricity market reform will be a priority in 2023

From a regulatory point of view, the most important task of next year will be the review of the European electricity market model, at a time when we have to face the triple challanges of supply security, affordability and sustainability, emphasised Pál Ságvári Vice President for Strategic and International Affairs, Hungarian Energy and Public Utility Regulatory Authority (MEKH) at the Budapest Climate Summit.

In Europe, the revision of the electricity market model will be one of the most important energy regulation topics in 2023, said Pál Ságvári in a panel discussion organised at this week’s Budapest Climate Summit, where he discussed the challanges of the transforming energy system together with Zsolt Jamniczky, Deputy CEO, E.ON Hungaria and Zsófia Beck, Partner and Managing Director of BCG.

Apart from the EU legislative institutions, the national independent regulatory authorities and the EU agency coordinating their cooperation, ACER will also participate in the process, informed the Vice President of the Hungarian regulator.

However, he reminded that the comprehensive transformation necessary to create a future-proof market model cannot be carried out in a forced manner. The goals must be well defined and all steps must be carefully worked out to avoid disruptions in the operation of the electricity system.

“Only a well-developed and sufficiently stable regulatory environment attracts investments, so the reform requires appropriate professional foundations and policy consensus, in addition to the development of a carefully planned implementation schedule.

Basically, three things must be considered: baseload generation, the availability of resources that ensure the flexibility of the system, and the integration of renewable energy sources, emphasized the Vice President.

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