Hungarian households were again able to claim having the most favorable energy costs in Europe in November, according to an international price comparison study by the Hungarian Energy and Public Utility Regulatory Authority and Energie-Control Austria.
Electricity prices paid by residential consumers rose by 12 percent in London, 11 percent in Paris, and 10 percent in Prague compared to the previous month. The residential price of natural gas rose by 27 percent in Berlin and 25 percent in London compared to October.
Electricity costs for Hungarian consumers did not increase in November.
Last month, Hungarian households paid the second cheapest price for electricity: 9.06 euro cents per kilowatt hour, up to the limit of the average consumption of 2,523 kilowatt hours per year. The cheapest price was registered in Belgrade, Serbia. Households consuming 20 percent more than the average annual consumption in Hungary were charged 10.44 euro cents per kilowatt hour, also the second cheapest price in Europe.
Meanwhile, natural gas was the cheapest in Hungary in November.
Natural gas cost 2.49 euro cents per kilowatt hour for a consumption of up to 63 645 megajoules last month. Hungarian households consuming 20 percent more than the average had access to natural gas for 5.06 euro cents per kilowatt hour, the second cheapest price in Europe last month, the Hungarian authority reported.
In the current energy crisis affecting the whole of Europe, it is also important to look for new sources of supply. This is also needed because of EU sanctions, some of which are aimed at Russian energy. Hungary is looking to diversify its supply, as a result of which it will soon receive green electricity from Azerbaijan via Romania and Georgia, thanks to an undersea pipeline.
The Paks nuclear power plant also plays an important role in the country’s energy supply, and its upcoming expansion is in Hungary’s national strategic and national security interests at the same time,
the Minister of Foreign Affairs and Trade said earlier. According to Péter Szijjártó, in light of the global energy crisis, those countries will be strong that will be able to produce a large part of the energy they use themselves. The Paks plant can ensure Hungary’s independence from skyrocketing energy prices and the severe changes in the international energy market.
Featured photos via Household Energy Price Index for Europe; Pixabay