Hungary’s parliament adopted legislation today imposing a third round of household energy price cuts on the country’s electricity, gas, and district heating providers. MSZP and Jobbik voted for the bill despite many of their members being absent. LMP and a number of independent MPs voted against it.
The bill further reduces the price of natural gas by 6.5 percent effective April 1st, electricity by 5.7 percent effective September 1st, and district heating by 3.3 percent effective October 1st.
The bill includes so-called consumer protections such as fines of up to HUF 500 million on banks failing to allow customers to withdraw up to HUF 150,000 from ATM machines on a given day, free of charge. It also provides for customers to withdraw up to HUF 75,000 twice a month free of the financial transaction tax levied on banks.
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