Summary

Hungary is currently in the process of liberalising its electric sector. In December 2001 the Hungarian Parliament passed a new law on electricity, Act XC of 2001 ('the New Electricity Act'), which provides the general legal framework for the process. The new law will take full effect as of 1 January 2003. Currently, until the New Electricity Act comes into force, all generators are required by law to offer their generated capacity to the public service wholesaler under long-term power purchase agreements. Public service suppliers may only purchase power from the ...