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Jan 13, 2017

Hungarian government schemes see families save 550 euros each year on utility bills

The effect of the price cuts means that public money which utility companies had previously siphoned off as profit out of the country was now being returned to the pockets of consumers

Families are saving up to 170 000 HUF, or 550 euros, each year on their household utility bills thanks to government backed schemes, deputy group leader of the ruling Fidesz party has said.

According to MTI, Szilárd Németh said that the scheme launched in 2013 affected not only energy bills but sewage, water and the chimney-sweep fees too.

The effect of the price cuts means that public money which utility companies had previously siphoned off as profit out of the country was now being returned to the pockets of consumers, he said.

Figures show that between 2002-2010, inflation added up to 58 percent and the price of household gas went up by 206 percent, while electricity rose by 97 percent. Since then consumer prices have risen by 13 percent and gas and electricity price increases have slumped to 9.2 percent and 2.2 percent respectively, leaving the price rises well below the rate of inflation, he added.