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State Secretary: Hungarian electricity, gas second cheapest in Europe

Telco

Hungarian families now pay the second lowest prices for gas and electricity in the European Union, János Fónagy, state secretary at the development ministry, said at a press conference Wednesday, referring to November figures from Eurostat. 

The State Secretary said that the government's utility price cut program, launched in January 2013, has left HUF 334 bln (€1.1 bln) with families. The retail price of gas has dropped by a combined 25%, the retail price of electricity has dropped by 24.5% and district heating by 22.5% compared to the prices before the utility cut program, the official said. Fónagy noted that the government was planning to extend the scheme to companies, and increase their competitiveness through lower energy prices.

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