EDF DÉMÁSZ to lower electricity prices by on July 1

Analysis

Regional electricity distributor EDF DÉMÁSZ, servicing South-Hungary will decrease the average price it charges to retail clients for its services as a universal service provider by 7.4% on July 1, the company informed MTI on Thursday.

Power companies act as "universal service providers" when they provide electricity to households, small consumers and public institutions using a state-controlled price structure, thus mitigating exposure to market forces.

On June 15 parliament approved an amendment of Hungaryʼs electricity law freezing the price of power until the publication of a decree on a new pricing mechanism and granting the relevant minister the right to establish introducing a maximum electricity price. Both the price freeze and the new maximum price applies the retail price charged for the universal service and has not effect on the liberalized market.

The Hungarian Energy Office (MEKH) announced on June 15 that household electricity prices would drop on July 1, reflecting costs and a retroactive accounting of savings reached compared to the price margin applied for 2009. (MTI-ECONEWS)

ADVERTISEMENT

Job ads in hospitality, tourism sector grow drastically  Analysis

Job ads in hospitality, tourism sector grow drastically 

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Dentons rehires banking and finance partner Appointments

Dentons rehires banking and finance partner

Budapest hosting 2024 Chess Olympiad City

Budapest hosting 2024 Chess Olympiad

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.