Budapest residents have the cheapest energy in the EU

The consumer price of natural gas and electricity is surprisingly cheap in Budapest compared to other EU member states. According to recent statistics, Budapest residents have the cheapest gas and the second cheapest electricity among all the capitals of the EU states.

Villággazdaság noticed that The Hungarian Energy and Public Utility Regulatory Authority (MEKH) shared some interesting statistics from a recent Eurostat survey.

Last December, the average consumer price of natural gas was the lowest in Budapest, and electricity prices were the second cheapest (EUR 0.11 per kWh) in Budapest among the EU member state capitals. Only Belgrade had lower electricity prices (EUR 0.07 per kWh). In contrast, household electricity prices were the highest in Berlin, Germany (EUR 0.32 per kWh)

In Hungary, the official consumer price of electricity remained unchanged for years. Deviations in prices that are observed every year are due solemnly to the constantly changing exchange rate between the Euro and the Forint. However, if we are looking at Purchasing Power Standard, electricity prices in Budapest are only the 9th cheapest in the EU.

Eurostat is the statistical office of the European Union. It publishes official, harmonised statistics on the European Union and the euro area, offering a comparable, reliable, and objective portrayal of Europe’s society and economy. A vast range of data is available for the EU as a whole and also for the Member States.

The Hungarian Energy and Public Utility Regulatory Authority is the regulatory body of the energy and public utility market, supervising the national economy’s sectors of strategic importance. Its responsibilities include licensing, supervision, price regulation, tariff and fee preparatory tasks in the fields of electricity, natural gas, district heating as well as water utility supply, besides the pricing of public waste management services.

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