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Amendment cuts electricity bills by 5.7%

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An amendment to the electricity price regulation mandates a 5.7% cut in the retail price of electricity by Sept. 1, the government gazette reported yesterday.

Under legislation approved on utility price cuts in February 2014, service providers cannot charge retail clients more for electricity consumed after Aug. 31 of this year than 94.3% of the sum they charged for the same amount of electricity on November 1 of last year.

The National Development Ministry regulation, published in the official gazette Magyar Közlöny yesterday, reduces the maximum prices universal service-providers can charge to retail customers accordingly. The February act was part of a series of government measures to reduce the price of public utilities for retail consumers ongoing since the autumn of 2012.

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