While the Czech Republic awaits storage legislation, Hungary will provide billions for its development

The European Commission has approved public support for electricity storage in Hungary. Hungary will obtain part of the funding directly from EU funds, while the remainder will be financed through a separate levy in the electricity price. While Hungary is drawing subsidies for storage, electricity storage has not yet even been enshrined in the Czech Energy Act. The Czech Republic is already two years overdue in its obligation to incorporate storage into legislation. 

Electricity storage is rightly regarded as the missing link in the transition to an energy system based on renewable energy sources. This has become increasingly apparent in recent weeks, particularly during sunny non-working days, when electricity prices on short-term markets often fall into negative territory.

Hungary has decided to help address this situation. It has announced support totalling EUR 1.1 billion (approximately CZK 26 billion) for new electricity storage facilities. The support will be available in the form of an operating subsidy, funded through a separate payment collected alongside the electricity price, and an investment subsidy provided through the European Recovery and Resilience Facility.