The goal of this paper is to analyse how the recent developments on the European energy markets and the subsequent EU regulation changed the playing field for and how did this affect the feasibility of the strategic goals of the National Energy Strategy of Hungary. The first part of the study reviews the changes in the European electricty, natural gas and coal markets, as well as the new EU regulations. Then the second part discusses the changes in the Hungarian electricity, natural gas and district heating market. Taking all these into account, the third part revises the past analyses for these markets and reassesses if the targets are still feasible.