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The VOLT Festival in Sopron will be cancelled in 2023. In a statement sent to the state news agency MTI on Friday, the organizers justified the decision with the uncertain economic environment.

Tamás Kádár, the head of Sziget Organizing Office organizing major festivals such as Sziget, Balaton Sound and Telekom VOLT, stressed in the statement that for them, the Telekom VOLT Festival is a real "love brand", a significant event of the Hungarian festival market. He added that "we are also very much concerned about the VOLT festival, but this year's festival in Sopron could only be organized with significant cost cuts, and in the uncertain economic situation we are currently unable to organize VOLT to the same standard as the public have become accustomed to."

The organizers said in the statement that they were confident that the economic climate would improve and that they would be able to fill the Sopron resort area ‘Lővérek’ again.

The statement quoted Ciprián Farkas, mayor of Sopron, as saying that they take note of the organizers’ decision. He stressed that the Town of Sopron has always been a warm and supportive host and they are confident that after the difficult period they will be able to host this long-standing and much awaited festival again, the statement said.

Béla Szabó, Magyar Telekom's brand and communications director, said in the document that they have been the main sponsors of the festival for more than ten years and it is hard to imagine next summer without the Telekom VOLT Festival, but they understand the organizers’ decision. He added that they will work in the coming months to find a way to fill the void caused by the cancelation of the festival.