Retail gas prices in Hungary will be announced on Thursday and a rise of an average 10% is expected from April 1, market sources told MTI.
The price increase in Budapest will average 8.7%. But one regional supplier, Tigáz, will bump up prices by over 12%.
Gas suppliers with "universal service provider" status - who charge clients a fixed price for gas for a certain period of time, thus mitigating exposure to market forces - had originally sought an increase of 17% in proposals submitted to the Hungarian Energy Office (MEH). MEH president Zoltán Matos said early March that a price increase of HUF 16-17 per cubic meter of gas would be justified based on the used formula. However, changes to the way gas prices are calculated in force from March 15 shaved as much as HUF 4 off. (MTI)