European Restructuring Monitor (ERM)
Eurofound's ERM database on restructuring-related legal regulations provides information on regulations in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change.
Act LVII/2015, Article 2
Large companies are obliged to conduct an energy audit every fourth year and to register at the Hungarian Energy and public utility regulatory office (Magyar Energetikai és Közmű-szabályozási Hivatal - MEKH). The registration obligation and data provision obligation on energy savings will be updated on a yearly basis. Enterprises can alternatively adopt an energy management system (ISO 50001 certification), which will exempt them from the obligation. The energy audit has to be conducted by an approved registered energy auditor.
Sanctions will be imposed on registered enterprises and/or auditors by the MEKH if non-compliance is detected. An energy audit obligation also applies to enterprises that claim a corporate income tax relief after energy efficiency investment measures.
Act LVII/2015 (amended in each year since its enactment) requires the government to set out the national energy saving target for 2020 and 2030. The primary energy consumption and final energy consumption goals to be achieved by 2020 and 2030 are defined as indicative energy efficiency targets. These targets are set out in the integrated national energy and climate plan in accordance with Articles 4 and 6 of Regulation (EU) 2018/1999 of the European Parliament and of the Council. When setting the indicative energy efficiency target for 2030, it should be taken into account that the European Union's energy consumption in 2030 should not exceed 1,128 Mtoe of primary energy and 846 Mtoe of final energy. The results of measures taken to support households shall be communicated to the European Commission in the framework of the integrated national energy and climate plan.
The Act also outlines the responsibilities of the Hungarian Energy and public utility regulatory office (MEKH) to monitor the quality of energy efficiency measures adopted by companies. MEKH’s responsibilities include collecting data on energy efficiency, recording and publishing energy efficiency savings, maintaining a list of energy auditors and an energy efficiency website, undertaking assessments of energy supply sources, classifying new energy production facilities based on their efficiency, approving the cost-benefit analysis and keeping a record of costs and expenditures. MEKH should also outline minimum energy efficiency standards for government buildings: at least 3% of the total area is subject to energy efficiency renovations annually.
From 1 January, 2021, Hungary introduced an energy efficiency obligation system (EKR). Under the new system underpinned by legislation, energy retailers are obliged to meet energy efficiency targets that are set to increase gradually year-by-year until 2030. The targets are expected to be achieved either by implementing energy efficiency investments directly benefitting end-users (companies or residents) or buying already implemented energy efficiency investments on the secondary market. The projects get certified and approved with a reporting obligation to the MEKH. Details on this system are also laid out in government decree 122/2015.
In March 2023, government decree 122/2015 was amended to include, as a new Article 4/A, the goal that measures set out in the decree should help the renewable heating and cooling sectors grow by an annual 1.3%. A list of related policy and responsible authorities are contained in Annex 8 III.
According to a report by EY, the energy costs of medium-sized and large Hungarian companies tripled during 2022. The rising costs gave companies two options: raise their prices to compensate for the high costs (79% chose this) or start energy efficiency improvements. While 80% of companies plan to launch an energy investment, this is hindered by a lack of resources and uncertainty in the regulatory background, according to company executives responding to EY’s survey.
Eurofound (2021), Hungary: Obligation to undertake energy efficiency audits, Restructuring legislation database, Dublin, https://apps.eurofound.europa.eu/legislationdb/obligation-to-undertake-energy-efficiency-audits/hungary
Between the end of 2022 and the first half of 2023, almost 300,000 employees working for ‘big tech’ companies were laid off across the world, making headlines for months in global media. This development has been a shock, considering the high numbers of jobs in well-known tech corporations with a reputation for offering good working conditions and well-paid positions.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions. Many banks in the sector have been undergoing serial restructuring since the global financial crisis, and it is one of the few service sectors with stagnant or declining employment.
Since 2011, the Restructuring support instruments database of the EU PolicyWatch has been collecting information on measures that assist companies and workers to anticipate and manage restructuring. This article looks at measures in the database aimed at supporting employees and employers during the COVID-19 pandemic (2020–2022).
Eurofound’s European Restructuring Monitor database reveals the impact of the energy crisis on employment in the EU. Following Russia’s invasion of Ukraine in February 2022, energy prices have hit record highs. The European Commission imposed sanctions and limitations on the import of oil and gas from Russia, which has reacted by reneging on supply commitments to many Member States.
