Portfolio Energy Investment Forum 2025

08:15–10:45

Section I: The New Face of the Electricity Market – Facing Serious Challenges

The electricity market is undergoing a significant transformation. Negative electricity prices are becoming increasingly common during the daytime, while prices can surge to several hundred euros during the evening peak period. These extraordinary price fluctuations present new challenges for both producers and consumers. Traditional market models and regulatory frameworks are finding it increasingly difficult to keep pace with these changes. This session aims to explore the key drivers behind this phenomenon.

08:15 - 08:25

Opening

Speaker: Zoltán Bán, CEO, Net Média (Portfolio Group)

08:25 - 08:45

Presentation (in English, with simultaneous interpretation)

Speaker: Alda Ozola, Vice President, Council of European Energy Regulators (CEER)

08:45 - 09:05

Key Challenges and Strategic Directions in the Hungarian Energy Sector

Speaker: Csaba Lantos, Energy Minister, Energy Ministry

09:10 - 09:30

Main Regulatory Issues in the Hungarian Energy Markets

Speaker: dr. Edit Juhász, President, Hungarian Energy and Public Utility Regulatory Authority

09:30 - 09:45

Presentation

Speaker: Károly Mátrai, CEO, MVM Group

09:45 - 10:00

Presentation (in English, with simultaneous interpretation)

Speaker: dr. Guntram Würzberg, President, E.ON Hungária Csoport

10:00 - 10:15

Presentation

Speaker: dr. György Bacsa, MOL Hungary - CEO, MOL Group - SVP Strategy and Business Development

10:15 - 10:30

Presentation

Speaker: ifj. Attila Chikán, CEO, ALTEO Group

10:30 - 10:45

Presentation

11:00–11:40

Coffee break

11:40–12:55

Section II/A: System-Level Adaptation in the Age of Renewables

The rapid expansion of renewable energy producers has fundamentally changed the operation of electricity markets. This session seeks to explore how the energy system can be made more resilient, whether through network development or the fine-tuning of regulatory frameworks. It will also address the increasingly important role of active consumers, the broadening scope of flexibility services, and the challenges posed by decentralised generation.

11:40 - 11:55

MARI and PICASSO: A New School of Balancing Energy

Speaker: Sándor Herczeg, Head of Division (Strategic Analysis Department), Magyar Energetikai és Közmű-szabályozási Hivatal

11:55 - 12:40

Leaders’ Panel Discussion: The Most Pressing Issues in the Transforming Electricity Market

How do daily price fluctuations affect investment scheduling and financial modelling?

The role of demand-side response: real potential or illusion?

Flexible generation – what does it mean today in a Central European market?

New market players versus traditional models

Regulatory slowness vs. technological acceleration

Conversation participants:

Zsófia Beck, Managing Director and Partner, Head of the Energy Practice in CEE, and Global Head of BCG’s Integrated Power Segment
Gábor Králik, Vice President for Energy, Hungarian Energy and Public Utility Regulatory Authority
Péter Luczay, Deputy CEO, Asset-Backed Energy Trading and Business Development, ALTEO Nyrt.
Károly Mátrai, CEO, MVM Group
Zsolt Veres, Country General Manager, Schneider Electric Hungary

12:40 - 12:55

The Meeting of Technological Maturity and Business Logic – How Energy Storage Forces a Paradigm Shift in Energy Market Thinking

Speaker: Dániel Racsek, Founder and CEO, GNX Engineering Kft.

11:40–12:55

Section II/B: Energy Procurement and Energy Efficiency in the Renewed Regulatory Environment

In June 2025, the Energy Efficiency Obligation Scheme (EEOS) was renewed, presenting both challenges and opportunities for market participants. This session examines the impact of the revised regulations on investments, corporate strategies, and accounting practices based on Verified Energy Savings. It will cover the system’s new logic, benchmarks, auditing and monitoring requirements, while also considering the financial and legal risks involved.

11:40 - 11:55

How To Turn Obligation into Competitive Advantage?

11:55 - 12:40

Panel Discussion on the New EEOS Regulation

The logic of the new benchmarks – how realistic and incentivising are they?

Audit and monitoring: control or administrative overload?

The role of energy traders in corporate EEOS strategies

How to build a business from obligation (ESCOs, aggregators)

Aligning the EEOS with other EU and national support schemes

Moderator: Gábor Bali, Managing Director, ENERGIQ

Conversation participants:

Balázs Ács, Deputy CEO, Vice President of the Board of Directors, Masterplast Nyrt.
dr. Csaba Gondola, State Secretary for Circular Economy and Climate Policy, MInistry of Energy of Hungary
Péter István Vedres, Department of Sustainable Development Head of Department, Hungarian Energy and Public Utility Regulatory Authorit

12:40 - 12:55

Energy Efficiency as a Service (ESCO) – Financing Models for SMEs

12:55–14:00

Lunch break

14:00–15:30

Section III/A:Responses to Market Uncertainty – Long-Term Contracts, Insurance Solutions and Business Models

The rise of renewable energy sources has led to significant production and price volatility, creating a range of new risks. This session provides a detailed overview of the opportunities offered by long-term power purchase agreements (PPAs and cPPAs), which provide producers with predictable revenues while offering price stability for companies. It will also cover an innovative insurance product designed to mitigate the costs of unpredictable weather. Finally, the session will explore how storage solutions can become a competitive advantage for businesses in the new market environment.

14:00 - 14:15

The Role of Parametric Insurance in the Future of Risk Management

14:15 - 15:00

Panel Discussion: PPA and cPPA Contracts – New Opportunities for Industrial Consumers and Producers

Long-term contracts as a procurement strategy – how do they fit into the traditional portfolio?

Energy without the exchange: to what extent can daily price volatility be avoided with a well-structured arrangement?

PPA and cPPA as bankable agreements – a new financing tool on the capital market

Contractual balance: who takes what responsibility, and under what conditions?

Geographical and grid constraints – does cross-border green energy trading have a future?

Conversation participants:

Tamás Hiezl, Executive Director, CEZ Magyarország

15:00 - 15:30

Panel Discussion: Business Models for Electricity Storage

Market-based returns or dependence on subsidies – what can be expected from METÁROLÓ?

Which approach will prevail: self-consumption, grid feed-in, storage-as-a-service, or something entirely different?

The identity crisis of electricity storage: producer or consumer?

It is not only about the hardware – software is equally important

Solar 2.0? Could the storage market cannibalise itself?

Moderator: Krisztián Kabát, Energy Analyst, Portfolio Group

Conversation participants:

Barnabás Bárdi CFA, Head of Division (Electricity Supervision and Price Regulation Department), Magyar Energetikai és Közmű-szabályozási Hivatal
László Szabó, Director, Corvinus University of Budapest, Regional Centre for Energy Policy Research (REKK)

14:00–15:30

Section III/B: The Transformation of the Gas Sector – No Future Without the Pas

While the green transition is placing increasing emphasis on clean energy sources, natural gas continues to play a crucial role in maintaining the stability of the electricity system. At the same time, emission reduction targets are bringing climate-friendly solutions such as geothermal energy, biogas, and hydrogen into sharper focus. This session centres on how these new energy carriers can be integrated into the existing system.

14:00 - 14:15

Hungary as a Geothermal Powerhouse – Dream or Reality?

14:15 - 15:00

Panel Discussion: The Role of Natural Gas in the Future Energy Infrastructure

Natural gas as a flexibility tool: how long is it sustainable?

The future of gas infrastructure – what developments do hybrid energy systems need?

Gas and the EU’s climate policy goals – can they be reconciled?

LNG, storage, transit routes – geopolitical impacts

Long-term gas trading contracts: pricing, risks, alternatives

Conversation participants:

Szabolcs Ferencz I., Chairman-CEO, FGSZ Natural Gas Transmission Ltd.
Dániel Garai, CEO, CEEGEX
Károly Grébecz, Head of Division (Gas Supervision and Price Regulation Department), Magyar Energetikai és Közmű-szabályozási Hivatal
Ákos Kriston, CEO, Hungarian Gas Storage

15:00 - 15:30

Panel Discussion: Biogas and Hydrogen – Green Molecules in the Gas Sector

Barriers to biogas production and injection: permitting, grid connection, and financing

Hydrogen strategy – when will it become truly market-ready?

Power-to-gas and its connections to the electricity market

The gas grid as a “green molecule carrier” – technological limits and opportunities

Corporate examples: who has ventured into biogas/hydrogen, and why?

15:30–16:00

Coffee break

16:00–17:00

Section IV/A: Redefining Energy Security – Data, Algorithms, and Geopolitical Challenges in the Shadow of the Green Transition

The 21st century is not only about the green transition, but also about its security dimensions. The global race for critical raw materials, growing technological dependency (e.g. on China), and the increasing digitalisation of the energy sector are generating new types of risks. Security of supply is no longer just about physical infrastructure – it now also concerns data protection, IT security, and algorithms. The session will explore the technological and geopolitical trends shaping energy systems and how digital solutions can be used to address these challenges.

16:00 - 16:15

Energy Market Predictions and Data-Driven Decision-Making

16:15 - 17:00

Panel Discussion: Energy Security 2.0 – Global Raw Material Competition and Digital Infrastructure

Artificial intelligence and algorithms in system operation – who bears responsibility when they fail?

Smart grids, remote control, IoT: as efficiency increases, so does the attack surface

Europe’s green transition based on external raw material sources – a sustainable strategy?

From charging point to firewall: sustainable urban transport and the digital & security challenges of e-mobility

Moderator: Krisztián Kabát, Energy Analyst, Portfolio Group

Conversation participants:

András Miklós Hegedűs, Information Technology Manager, MVM Mobiliti

16:00–17:00

Section IV/B: The Ányos Jedlik Energy Programme – A Comprehensive Support Package for Businesses

Our closing session will spotlight the Ányos Jedlik Energy Programme – a comprehensive state support initiative that could inject fresh momentum into corporate development. The programme supports, among other things, corporate investments in energy efficiency and geothermal projects, the deployment of energy storage solutions, and the modernisation of the electricity grid. It aims to accelerate the transition to a green economy while promoting the development and spread of technologies that strengthen Hungary’s long-term international competitiveness.

16:00 - 16:20

Programme Presentation

Speaker: Attila Steiner, State secretary for energy policy and climate, Energy Ministry

16:20 - 17:00

Panel Discussion: Towards the Green Transition with State Support – Corporate Strategies and Experiences

State support as an investment accelerator: which sectors benefit most?

Application challenges: Administration, pre-financing, and monitoring

What makes a supported project sustainable in the long term?

Early experiences: What works, what does not

Green energy infrastructure = competitive advantage? – Examples, lessons, dilemmas

Conversation participants:

Márk Balástyai, Chief Executive Officer, Futureal Energy
László Csatári, Board Member, Deputy CEO, Trustify Befektetési Alapkezelő
Attila Steiner, State secretary for energy policy and climate, Energy Ministry

Reception & Networking

After we have discussed the most important professional issues and challenges, it's time for some well-deserved relaxation and fun: we will be waiting for you with a standing reception on the terrace with a wonderful panoramic view, where you can continue to discuss professional issues and make new business contacts in a relaxed atmosphere.