Financial Times: Hungary has the lowest gas prices in Europe
Despite criticism, Viktor Orbán has achieved the lowest gas prices in Hungary, HírTv.hu reports based on an article in the Financial Times. The British newspaper compared European gas prices and Hungary came out on top. The article says that no matter how much criticism Orbán receives over his friendship with Moscow, he achieved the lowest gas price for his country in Europe.
Hungary has the lowest gas costs
Prime Minister Viktor Orbán has “managed to keep household gas prices in Hungary the lowest (in the EU) no matter how much criticism he has received”, HírTv.hu wrote on Wednesday based on an article by business daily Financial Times.
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The Financial Times has published a lengthy article analysing gas prices in Europe, MTI reports. The article notes that the average price of electricity for British households is at least 30 percent higher than many of its European neighbours. They added that this is because the country relies more heavily on natural gas for energy production, which is hitting consumers hard.
The paper noted that Hungary has by far the lowest household gas costs, and explained that despite criticism from other EU members over its relations with Moscow, Prime Minister Viktor Orbán has signed a number of agreements with Russia that ensure lower gas prices, HírTv.hu reports.
Europe is not doing well
The analysis touches on the fact that average electricity prices for UK households are at least 30 percent higher than many of its European neighbours, and that the whole continent is experiencing an energy crisis caused by a drop in oil and gas flows from Russia. But analysis shows that the direct impact of this on households varies widely depending on the energy mix in each country, Index.hu reports.
They note, however, that electricity prices are expected to rise across Europe this winter as high gas prices continue to spill over into the energy market, while energy supplies from other sources are declining. For example, due to widespread maintenance problems at nuclear power plants in France and dry weather conditions affecting hydropower.
Source: Financial Times, Helló Magyar, HírTv.hu, Index.hu, MTI