Govt sees 10% bottled gas price cut from June 1

Energy Trade

Hungary's government wants to reduce the price of bottled gas by 10% from June 1, state secretary János Fónagy said at a press conference on Friday. The government is committed to continuing to lower household utilities prices, and on this note bottled gas prices are expected to fall by 10% from June 1, Fónagy said. The government mandated a 10% reduction of household electricity, gas and district heating prices from the start of the year, and Parliament recently approved legislation that will reduce fees for water, sewage and rubbish pickup. State secretary János Lázár said a week ago that household energy prices should be cut by another 10% in the short term, adding that a 30% reduction would significantly improve Hungarians' standard of living. He said in February that retail gas and electricity prices must be reduced by at least 30% by the summer of 2014. Fónagy said on Friday that the National Development Ministry is working on detailed regulations to step up consumer protection when it comes to gas and energy service providers.

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