The FinancialTimes recently published a lengthy article analyzing energy prices in Europe, finding that the average electricity price for UK households is at least 30% higher than many of its European neighbours, while Hungary has the cheapest gas.
According to the UK business and economics newspaper, the situation is so bad in their country because they are more dependent on natural gas for power generation, which is hitting consumers hard.
The average household electricity price in the UK is at least 30% higher than many of its European neighbours.
The article also looked at Hungary, where falling utility costs mean household bills are still much lower than in other parts of Europe. The newspaper admitted as much, writing that
Hungary has by far the lowest gas costs for households.
The FinancialTimes also added that despite criticism from other EU members over relations with Moscow, Prime Minister Viktor Orban has signed a number of agreements with Russia that guarantee low-cost gas supplies.
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Indeed, the Hungarian government has a long-term contract with Russia for the purchase of gas, and Foreign Minister Péter Szijjártó recently announced that Gazprom will deliver up to 5.8 million cubic meters of gas more per day to Hungary via Serbia than the quantity stipulated in the long-term contract.