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Hungary: Experts envision energy price hike

According to experts, apart from basic food products, the price of energy will increase next year as well; this can be attributed to both domestic and foreign affairs.

In line with the new energy law passed by Parliament in the middle of summer, the electricity market will be opened as of January 1, 2008. Some say that competition will be favorable for consumers. Others, however, are afraid that the market opening will result in a 10%-30% increase in electricity prices instead. Nonetheless, everyone agrees that this is much uncertainty regarding energy liberalization at present. Although the electricity law has been passed, the decrees of execution have not, Hungarian Energy Office department head Péter Grabner said. (Magyar Hirlap)