Hungary’s House Of Parliament Approves Utility Rate Cuts

  • 7 Feb 2014 8:00 AM
Hungary’s House Of  Parliament  Approves Utility Rate Cuts
Parliament yesterday approved a third round of cuts in household energy fees, as well as new regulations on the amount of cash that can be withdrawn from ATMs, as part of the same bill.

Fidesz, Jobbik and Socialist MPs all voted to lower the price of gas by 6.5% from April 1, that of electricity by 5.7% from September 1, and that of district heating by 3.3% from October 1.

The utility rate cuts will be extended to social care institutions that provide personal care, such as pensioners homes.

Banks will have to allow customers to withdraw up to Ft 75,000 from ATMs at a time. The ceiling on free cash withdrawal is set at Ft 150,000 monthly. Banks that do not comply face a minimum fine of Ft 500 million.

Source: Hungary Around the Clock

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