Budapest Business Journal
Summary
Hungary is a “superpower” in terms of its geothermal energy, but it has so far largely failed to harness its possibilities properly, Minister of Energy Csaba Lantos told the participants of Hungary’s first Geothermal Energy Summit held in Budapest on June 5.
“Only 10% of the district heating system is fueled by geothermal energy right now, and only one steam turbine is producing electricity, a very small one […] but at least it proves that we have the opportunity not only for heating, but also for producing electricity,” Lantos said in his keynote address.
But after the COVID pandemic and the war in Ukraine, the “illusion of the cheap energy age” is over, he said, and with Hungary seeking to increase its energy security through the use of renewable domestic resources, the government is keen to exploit its geothermal energy to cut gas imports and provide stable electricity generation, he underlined.
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