According to the Hungarian Energy and Public Utility Regulatory Authority (MEKH), Hungarian household energy bills are still among the lowest in Europe. The low residential prices are due to the Government’s price cap placed on electricity and gas prices to protect Hungarian consumers from market volatility.
According to MEKH’s May report on monthly price comparison based on international standards, the average residential price of natural gas was the lowest in Budapest (2.75 euros/kWh) among the European capital cities surveyed. In the same month, the average residential gas price was 19.04 euros/kWh in Vienna, 26.85 euros/kWh in Amsterdam, and 14.92 euros/kWh in Prague.
Meanwhile, the average residential price of electricity in Budapest was the second cheapest in Europe in May at 10.17 euros/kWh, with only Belgrade paying less. However, the same amount of electricity cost 49.32 euros/kWh in Rome, 40.14 euros/kWh in Prague and 47.44 euros/kWh in Vienna.
MEKH also found that the energy prices paid by Hungarian consumers are among the lowest in Europe, also in terms of purchasing power parity. The average price of residential natural gas in Budapest was the lowest in May, at 0.0438 PPS (Purchasing Power Standard) per kWh, while electricity was the third cheapest in Hungary (0.1616 PPS).
