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Govt aims to compensate farmers for at least 40% of spring frost loss

Hungary's Rural Development is working on a damage mitigation package that aims to compensate farmers for at least 40% of their losses due to a spring frost in May, deputy state secretary Zsolt Feldman told Parliament's Agriculture Committee on Monday.


Data from the start of June show the spring frost affected an area of 41,150 hectares and 10,314 farmers, Feldman said. The scale of the losses is still not known, he added.


Amendment would mandate MVM to establish gas bourse, build restructuring fee into electricity prices


An amendment submitted to Parliament on Monday would mandate the state-owned Hungarian Electricity Works (MVM) to establish a gas exchange and build in to electricity prices a HUF 1.20-per-kWh restructuring fee for combined-cycle power plants.


The amendment would scrap subsidies for combined cycle plants with output over 50 MW, such as Budapest Power Plant, which supplies much of the capital's district heating.


The government earlier announced plans to revamp the system.