Gas prices in Hungary to rise by up to 9 pc from Jan

Budapest, November 18 (MTI) – The price of retail gas will be raised incrementally, in a range of 0 to 9 percent, depending on consumption, the economy minister announced on Thursday.

Tamas Fellegi said consumers in the lowest category of use – up to 1,200 cubic metres a year, which is about the average consumption – the price will be unchanged. The next category, with annual consumption of 1,200 to 1,500 cubic metres, will see a 0.7 percent rise; users between 1,500 and 2,000 cubic metres will pay 4.5 percent more. The price for the highest two categories – 3,000-3,500 cubic metres and 3,500 and above – will rise by 7.8 percent and 9.3 percent, respectively.

    Families with three or more children will get a discount, Fellegi said.

    Wholesale prices for universal gas providers who cater for the public will be made up in 40 percent by market-based “spot” prices while the rest will be determined by a long-term contract with Gazprom. Return on capital for universal providers will fall from the current 8-9 percent to 4.5 percent based on a ministerial decree, Fellegi said.