The escalation of the war in Ukraine in February 2022 shocked Hungary’s energy sector to such an extent that the Hungarian government declared a state of energy emergency by its resolution dated July 15, 2022. After the first anniversary of the escalation, the smoke has cleared enough to draw conclusions regarding the future based on the reactions of the stakeholders.

2022 brought many changes in competition law in Hungary and, as far as we can see, 2023 will not be any different. Here is a short summary of what was on the table in 2022 and what the consequences are.

After a record deal value in 2022, the outlook for M&A in Hungary for 2023 remains positive despite several risk factors. What are they and what could compensate for them? What other factors could have an impact on the current trends? 

The Hungarian renewable energy sector has developed significantly in recent years: the share of electricity from renewable energy sources in gross final electricity consumption was 7.51% in 2017, increasing to 13.9% in 2021. This rapid development was mainly due to the increase in solar power capacity, as the installed capacity of Hungarian solar power plants was around 350 megawatts in 2017, while it exceeded 4000 megawatts in 2022.

Recent changes to the Hungarian Labor Code on the abuse of rights rules are a hot topic among employers, HR professionals, and employment lawyers in Hungary. In this article, we will take a look at what the new rules mean for employers and how they may mitigate the legal risks and financial exposure arising from the amendments.

In recent years, the major development in Hungary’s banking system is the establishment of the country’s superbank through the merger of Budapest Bank, MKB Bank, and the Takarek Group. DLA Piper Partner Andras Nemescsoi, Forgo Damjanovic & Partners Managing Partner Gabor Damjanovic, and Jalsovszky Law Firm Managing Partner Pal Jalsovszky share insights into the driving forces behind this development, its current status, and its anticipated impact on Hungary’s banking sector.

Hungary has traditionally been the go-to hub for filming in Continental Europe. DLA Piper Partner Monika Horvath and Dentons Partner Timea Bana talk about the evolution of Hungary’s film industry over the past decade and whether the country has maintained its position as the primary European filming destination.

Alexey Amvrosov, Lead Counsel for IBM Consulting in CEE, based in Vienna, highlights the soft skills that will differentiate successful legal leaders from those less so.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Keeping in mind last year’s complexities and the uncertainties ahead, this time we asked: Has your team shrunk or increased in the last 12 months and what are your expectations for 2023?

Following a tumultuous year marked by the ongoing conflict in the region and rising financing expenses, we reached out to experts across CEE to gain a deeper understanding of the real estate landscape, including key factors driving the industry and the primary obstacles it faces.

Adaptability in times of change is one of the most needed qualities in individuals, but societies at large also need to have it, to better take advantage of shifting times. Are the CEE region and its legal profession able to adapt to the changes it is facing?

Every magazine issue, I inevitably glance over the Letters to the Editors text: an invitation for our readers and contributors to critically engage with us and the articles we publish. Sadly, we get much fewer such letters than I’d like. Still, today I realized that – while they might not start with the customary Dear Editor – we do get a large number of emails that would fit the bill.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and stay up to date with the latest developments impacting their respective practice areas. 

The Russian military invasion of Ukraine and the consequent energy crisis in Europe have brought the issue of energy independence to the forefront of the public agenda in Poland – raising it to an issue not only of economic stability but of national security.

Serbia has been making great strides in expanding its use of renewable energy in recent years, focusing on reducing its dependence on non-renewable sources and ensuring sustainable growth for its energy sector. Although the country has a wealth of natural resources, by now, Serbia’s reached a renewable energy capacity of 3,490 megawatts, of which 2,342 megawatts are from hydropower plants and the rest are from other renewable resources. Serbia’s abundant wind and solar energy potential will enable substantial progress in transitioning to green energy in the years to come. The impact of renewables on the Serbian industry will be significant, leading to reduced energy costs for businesses and greater energy independence. The growth of the renewables sector will also create new employment opportunities, particularly in construction, maintenance, and engineering. The industry will become a significant catalyst for Serbia’s economic development.

The last few years have seen a long list of investors turning their eyes to the Greek renewable energy source market and an abundance of new projects being developed throughout the country – to the extent that one would assume an excessive capacity of the Greek distribution network. Sadly, that is not the case. The occupation of grid space has been very loosely regulated for quite a long time, and final grid connection offers (GCOs) have been granted to licensed producers largely on a first come first served basis, and without any specific priority requirements.

In the pursuit of promoting renewable energy sources and achieving goals like decarbonization, as well as more ambitious ones such as energy independence, the European Union constantly both encourages and imposes achieving these objectives on the member states. As the whole world was recently shaken by pandemics and war, we are now facing an energy crisis worsened by these tragedies. In this context, in the second half of last year, Romanian legislators adopted several pieces of legislation aimed at mending various blockages encountered in practice by RES developers.

According to the national energy mix, only 5.6% of energy was produced by renewable sources in 2021 in the Czech Republic. Most energy was produced by nuclear sources (40.4%) and fossil fuels (54%).