Vice-President of the Hungarian ruling party Fidesz, Szilard Nemeth said that thanks to the Government’s program of utilities cuts, Hungarian households save up to 550 euros each year.
Nemeth said in an interview that a scheme, which started in 2013, affected not only energy bills, but also includes sewage, water and other utilities. The effect of the price cuts means that public money which private utility companies have previously syphoned out of the country as profit is now returned back to the consumers. Between 2002 and 2010, inflation added up to 58 % and the price of gas for households increased by 208 %, while electricity prices went up by 97 %. Since then, consumer prices increased by 13 %, however gas and electricity prices rose by 9.2 % and 2.2 % respectively, which is much below the rate of inflation, Nemeth explained.
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Tags: electricity, electricity price, gas, gas price, Hungary, regulation, utilities