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MVM Trade, the trade unit of the state-owned Hungarian power wholesaler MVM Zrt, will cut the wholesale price of electricity for residential, public and small-business consumers by 7.6% on January 1.
The cut in the wholesale price does not necessarily entail lower electricity prices for consumers, because the price of electricity includes service and grid-usage fees as well. The reduction could, however, slow the increase in prices.
MVM noted that the price reduction will decrease its revenue by an expected HUF 16 billion. (MTI – Econews)