Abstract The development of commercial MHD (magnetohydrodynamic) power plants has come a long way, from the first MHD experiment by Michael Faraday at the River Thames in 1832 to the present day efforts towards early commercialization. Over these years, development of MHD technology has seen many ups and downs. Though technically substantial progress has been achieved, today financial constraints are impeding speedy commercialization. Nevertheless, it is hoped that the MHD development community will overcome the present setback and establish commercial MHD power plants in the near future. When we look back at the seminal stages of MHD technology development over these years, we can clearly identify certain bench-mark events which propelled its progress. These events not only gave a boost to the development of MHD technology proper but also, in some cases, triggered development of new spin-off concepts. This paper looks into the history of MHD technology development and discusses the bench-mark events with the hope that this historical knowledge will provide us with a bearing for the future. The material presented in this paper is based on the extensive literature study carried out by the author and private communications and discussions with many of the leading specialists in the field.