Amid diplomatic tensions, Hungary played a pivotal role as Ukraine’s top electricity supplier in 2024. Despite ongoing political disagreements, Hungary provided 39% of Ukraine’s imported electricity, marking a dramatic increase in reliance on Hungarian energy.
According to data released by Ukrainian energy consultancy ExPro, Ukraine’s electricity imports from the EU surged by a staggering 550% compared to 2023, totaling 4.4 million MWh. Hungary led the pack among five EU electricity sources, with Slovakia, Romania, Poland, and Moldova following behind.
This shift came in the wake of devastating Russian attacks on Ukraine’s energy infrastructure, which severely impaired local electricity production. To address this, the EU raised its electricity export cap to Ukraine from 1,700 MW to 2,100 MW by early autumn, enabling Hungary to ramp up its supply.
Here’s the breakdown of 2024 electricity imports:
- Hungary: 39%
- Slovakia: 23%
- Romania: 18%
- Poland: 14%
- Moldova: 5%
The peak occurred in June 2024, with over 850,000 MWh of electricity delivered to Ukraine in a single month. As winter approached, worsening energy conditions pushed December imports up by 2.6 times compared to November, exceeding 430,000 MWh. Hungary alone supplied 35% of December’s imports, quadrupling its contribution to 152,000 MWh.
Poland also indicated its readiness to step in if Slovakia follows through on threats to cut electricity exports due to Ukraine’s halt of gas transit to the EU. Polish Energy Networks (PSE) stated they could adapt swiftly, reallocating capacity to meet Ukraine’s needs.
For Slovakia, the cessation of Ukrainian gas transit poses a financial setback, with potential annual losses of €200-300 million in transit revenues. However, the economic impact is considered manageable.
While challenges loom, Hungary’s prominent role in supporting Ukraine underscores the EU’s collective effort to address Ukraine’s critical energy shortages during a tumultuous year.
