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Gas - 30% this August, 40-50% more next year

Analysis

According to the previously stated rises in the gas price 30 August, we may expect further 40-50% in the beginning of 2007, after which the local gas prices would only differ slightly from the prices on international market. Government is looking forward to gaining Ft 120 million due to the risen prices. The new plan puts more weight on industry but promises protection against the consumer price increase to the families. Government wants to change the consumption based consumer subsidy to a subsidy based on social-background. This way large families and pensioners shall not feel difference that much. This agrees a previous statement of Prime Minister Ferenc Gyurcsány, who said, this year they wanted to spend Ft 160 million on gas-prise-compensation, but the target is to spend not mote than Ft 35-40 million on compensation in 2008. (Pb, Vg)

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