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Energy crisis: record heat, slightly higher Danube, drying streams and ongoing energy and water conservation nationwide
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Energy crisis: record heat, slightly higher Danube, drying streams and ongoing energy and water conservation nationwide

Today, record-breaking heat is being experienced, but the Danube water level has improved, exceeding Sunday’s low point by nearly 10 centimeters, and one block of the Paks Nuclear Power Plant is operational. A positive development is that Hungary will receive the guaranteed Danube water volume guaranteed in international agreements, while Slovakia is prepared to release some additional water. Many organizations across the country are continuing to conserve energy and water due to the heat. We can continue to follow the developments.

Latest Dispatches

Paksi Nuclear Power Plant: The government speaks out on the security situation makro-gazdasagpolitika

Paksi Nuclear Power Plant: The government speaks out on the security situation

The temporary shutdown of the power blocks at the Paks Nuclear Power Plant is proceeding safely and in accordance with normal procedures due to the low water level in the Danube. According to government information, the safety equipment is functioning continuously during the shutdown, emphasizing that maintaining nuclear safety is the most important thing. The interruption of electricity production does not endanger the operation of the energy system; the reactors are restarting gradually as the water level normalizes.

Portfolio.hu - Gazdaság
Extreme heat, alarming water shortage - Is Hungary really suffering from a lack of water? makro-gazdasagpolitika

Extreme heat, alarming water shortage - Is Hungary really suffering from a lack of water?

Due to droughts in recent years and climate change, water is increasingly seen as a strategic resource. The public discourse primarily focuses on whether there is enough water available, but less attention is paid to how this resource should be used. In the future, as water becomes increasingly valuable, it will be important to maximize the value produced from each unit of water, thus shifting the focus to productivity.

Portfolio.hu - Gazdaság
The highly anticipated forecast has arrived: this is how the water level at the Paks Nuclear Power Plant will change. makro-gazdasagpolitika

The highly anticipated forecast has arrived: this is how the water level at the Paks Nuclear Power Plant will change.

According to data from MTI, Hydroinform, and the National Hydrometeorological Service, a forecast for the Duna river’s water level for the next 6 days has been published. According to data from the Paks and Budapest locations, the water level on the country’s largest river is expected to continue to rise in the coming week, potentially reaching the level required for the Paks Nuclear Power Plant to operate at full capacity.

Portfolio.hu - Gazdaság
A fierce battle for control is taking place in Hungary, with the army also being deployed against the devastating fires makro-gazdasagpolitika

A fierce battle for control is taking place in Hungary, with the army also being deployed against the devastating fires

The fire in Feketehegy, near Székesfehérvár, has been contained, but residents are still unable to return to their homes. Four of the five intervention sites are now undergoing post-fire work, but flames are still active in one area. More than 70 firefighters are working to contain the fire, and the operation is also supported by the City Council, the Army, the Videoton Holding, and local agricultural farms’ tank trucks, which are supplying water.

Portfolio.hu - Gazdaság
Weather: The news everyone has been waiting for: the heat is over, and rain and storms are coming. makro-gazdasagpolitika

Weather: The news everyone has been waiting for: the heat is over, and rain and storms are coming.

On Friday, a cold front will bring temporary relief and scattered precipitation, but before that, the current Hungarian record of 42 degrees Celsius could be broken. However, this relief will not last long, as the heat will only subside over the weekend, and will return with renewed intensity next week. However, refreshing showers and thunderstorms could also arrive on Thursday, according to HungaroMet.

Portfolio.hu - Gazdaság
Power outages may occur in a large part of another continent due to the heat. makro-gazdasagpolitika

Power outages may occur in a large part of another continent due to the heat.

Electricity consumption in China has reached a record high due to the heatwave, particularly in the northern, northeastern, and eastern regions, where increased use of air conditioners is noticeable. Temperatures in these areas are expected to approach historical highs in the coming days. The increase in consumption is also due to the spread of data centers and other economic activities. The province of Guangdong became the first region in July to have its monthly consumption exceed 100 billion kilowatt-hours.

Portfolio.hu - Gazdaság
A financial world is undergoing a change: banks are being forced to take steps that were previously unheard of due to new American AI developments. makro-gazdasagpolitika

A financial world is undergoing a change: banks are being forced to take steps that were previously unheard of due to new American AI developments.

Major Wall Street banks are increasingly reluctant to address their debts related to artificial intelligence infrastructure. A bank consortium led by Morgan Stanley plans to restructure $15 billion in debt for the bond market, which would be used to finance a data center in Texas. The data center is being built for Anthropic and is being supported by Google, according to the Financial Times.

Portfolio.hu - Gazdaság
Von der Leyen and her team confiscated it, they were looking for it extensively, and now they are sending the assets to Ukraine. makro-gazdasagpolitika

Von der Leyen and her team confiscated it, they were looking for it extensively, and now they are sending the assets to Ukraine.

The European Union has received another 1.4 billion euros in funding from the proceeds of frozen Russian bank assets, which will be used to support Ukraine. With this latest transfer, the total amount has increased to 8 billion euros. 95 percent of the funds will be channeled to Ukraine through the Ukraine Support Fund, while 5 percent will be used to meet Ukraine’s military and defense needs within the framework of the European Peace Fund.

Portfolio.hu - Uniós források
Finally, good news: the extreme low water level may begin to recede. makro-gazdasagpolitika

Finally, good news: the extreme low water level may begin to recede.

The water level in the Danube may remain stagnant in the coming days, but rainfall expected in the second half of the week could lead to a rise of several centimeters from Saturday, the National Water Authority announced on its Facebook page on Tuesday.

Portfolio.hu - Gazdaság
A turnaround is visible: the level of the Danube is starting to rise, and soon the cooling will begin. makro-gazdasagpolitika

A turnaround is visible: the level of the Danube is starting to rise, and soon the cooling will begin.

On Tuesday morning, the Paks Nuclear Power Plant did not shut down, as the last turbine was operating safely, producing 240 megawatts. Today, a high load is expected on the power grid, with daytime temperatures of 37–41 degrees Celsius forecast nationwide. The peak heat will be on Thursday, followed by a significant drop in temperatures on Friday. Several companies have announced measures to save energy. This article is continuously updated.

Portfolio.hu - Gazdaság