Useful: new cap rules on household bills in Hungary announced!

The cap on energy bills will remain fully in force for households that do not exceed average consumption, according to a government statement on Thursday.

Monthly savings of HUF 159,000 (EUR 390) can be locked in, but market prices will apply for consumption that is above the average level, the statement on the government website kormany.hu said. Explaining the move, the statement cited the protracted war in Ukraine and associated sanctions, which have put drastic upward pressure on energy prices throughout Europe, triggering “an energy crisis”.

In a single year, the price of electricity has gone up 5 times, while the price of gas has shot up more than six times, the statement said, adding that further increases were expected.

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The government has brought in special measures so that the country has sufficient reserves of energy in the winter, it said, adding that the full cap on bills would apply to three-quarters of households.

An average consumer today pays HUF 7,750 (EUR 19.33) each month for electricity, which would be HUF 50,833 (EUR 126.79) without the cap, while gas bills with the cap come to HUF 15,833 (EUR 39.49), with market prices at HUF 131,444 (EUR 327.85). Up to average consumption, each household can save around HUF 159,000 (EUR 396.58) per month with the cap in place.

The new rule applies from 1 August.

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Source: MTI