• Home
• Channel: Current Affairs
• Budapest to Get Cheap Electricity

Budapest to Get Cheap Electricity

• 2 Dec 2021 11:49 AM
• Hungary Around the Clock

The city of Budapest is buying electricity at market prices for December, but will join the government-regulated market, where prices are lower, on January 1, mayor Gergely Karácsony announced on Facebook on Wednesday.

Following the bankruptcy of the previous supplier, energy trader JAS, in the autumn, the city is purchasing electricity needed for public lighting and public utility companies from Elmű from December 1, and from MVM from January 1.

JAS failed to purchase in advance all of the electricity it already sold, so soaring spot prices forced it to bankruptcy and it has given back its licence.

As a result, energy and utility authority MEKH appointed Elmű as the new service provider.

The energy law allows local governments to switch back to the regulated market, and Budapest will do so, purchasing electricity for Ft 31 per kWh from January rather than the present price of Ft 50-70 per kWh on the free market.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Cheap Electricity

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

"Historic Date": Gas To Start Flowing to Hungary from Turkey in April

• 26 Mar 2024 6:03 AM

Natural gas will start flowing from Türkyie to Hungary on April 1, so a “historic date is approaching”, the foreign minister said.



Orbán Congratulates Putin on Re-Election - What Did His Letter Contain?

• 22 Mar 2024 7:03 AM

Following the publication of the official results of the Russian presidential election, Prime Minister Viktor Orbán sent a letter to President Vladimir Putin to congratulate him on his recent re-election, the prime minister’s press chief said.



‘Seemingly No Way Out of Ukraine War’, Say Orbán

• 4 Mar 2024 6:57 AM

There seems to be no solution to the conflict between Russia and Ukraine and that leaves European politics “paralysed”, Prime Minister Viktor Orbán said at the Antalya Diplomacy Forum.



Hungary's Nuclear Power Plant Upgrade is 'Fukushima-Proof', Declares Gov't

• 7 Nov 2023 7:24 AM

The upgrade of Hungary's Paks nuclear plant applies the most stringent safety and environmental protection standards, the minister of foreign affairs and trade has said.