Hungarian Energy Prices in an OECD Comparison
The goal of the study is to assess the effect of the utility cost reductions announced by the Hungarian government in 2012 on Hungarian energy prices. The effects are discussed in an OECD comparison. It is concluded that the government price control has resulted in a 15% steeper price reduction occ...
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| Format: | Article |
| Language: | English |
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University of Miskolc
2016-07-01
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| Series: | Theory, Methodology, Practice |
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| Online Access: | https://ojs.uni-miskolc.hu/index.php/tmp/article/view/1561 |
| _version_ | 1797648450780659712 |
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| author | Zoltán Bartha |
| author_facet | Zoltán Bartha |
| author_sort | Zoltán Bartha |
| collection | DOAJ |
| description |
The goal of the study is to assess the effect of the utility cost reductions announced by the Hungarian government in 2012 on Hungarian energy prices. The effects are discussed in an OECD comparison. It is concluded that the government price control has resulted in a 15% steeper price reduction occurring 5-7 quarters earlier, compared to other OECD countries. The price reductions saved around 202 billion HUF for Hungarian households in 2014, which was around 0.63% of the GDP. If prices are compared to the monthly average wages however, household energy prices are still high in Hungary. One of the costs of the reduction in household energy prices was an increase in energy prices for industry: the industry/household price ratio is highest among OECD countries in the case of natural gas, and third highest for electricity.
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| first_indexed | 2024-03-11T15:32:21Z |
| format | Article |
| id | doaj.art-9e203e4a35f14a129b4b22adb6febec8 |
| institution | Directory Open Access Journal |
| issn | 1589-3413 2415-9883 |
| language | English |
| last_indexed | 2024-03-11T15:32:21Z |
| publishDate | 2016-07-01 |
| publisher | University of Miskolc |
| record_format | Article |
| series | Theory, Methodology, Practice |
| spelling | doaj.art-9e203e4a35f14a129b4b22adb6febec82023-10-27T04:13:27ZengUniversity of MiskolcTheory, Methodology, Practice1589-34132415-98832016-07-01120110.18096/TMP.2016.01.02Hungarian Energy Prices in an OECD ComparisonZoltán Bartha0University of Miskolc The goal of the study is to assess the effect of the utility cost reductions announced by the Hungarian government in 2012 on Hungarian energy prices. The effects are discussed in an OECD comparison. It is concluded that the government price control has resulted in a 15% steeper price reduction occurring 5-7 quarters earlier, compared to other OECD countries. The price reductions saved around 202 billion HUF for Hungarian households in 2014, which was around 0.63% of the GDP. If prices are compared to the monthly average wages however, household energy prices are still high in Hungary. One of the costs of the reduction in household energy prices was an increase in energy prices for industry: the industry/household price ratio is highest among OECD countries in the case of natural gas, and third highest for electricity. https://ojs.uni-miskolc.hu/index.php/tmp/article/view/1561electricityHungarynatural gasprice controlutility cost reduction |
| spellingShingle | Zoltán Bartha Hungarian Energy Prices in an OECD Comparison Theory, Methodology, Practice electricity Hungary natural gas price control utility cost reduction |
| title | Hungarian Energy Prices in an OECD Comparison |
| title_full | Hungarian Energy Prices in an OECD Comparison |
| title_fullStr | Hungarian Energy Prices in an OECD Comparison |
| title_full_unstemmed | Hungarian Energy Prices in an OECD Comparison |
| title_short | Hungarian Energy Prices in an OECD Comparison |
| title_sort | hungarian energy prices in an oecd comparison |
| topic | electricity Hungary natural gas price control utility cost reduction |
| url | https://ojs.uni-miskolc.hu/index.php/tmp/article/view/1561 |
| work_keys_str_mv | AT zoltanbartha hungarianenergypricesinanoecdcomparison |