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Socialists: Rising electricity prices cost Budapest extra HUF 200 billion

The rise in the price of electricity is costing the Budapest city council an additional 200 billion forints (EUR 490.7m), Socialist city councillor Csaba Horvath said on Wednesday.

Speaking to reporters ahead of a meeting of the City Assembly, Horvath called on the government to compensate Budapest transport company BKV for its rising energy costs.

Budapest is incapable of covering its rising energy costs on its own, he said, adding that like national railway company MAV, BKV should also receive state support. Horvath noted that Budapest residents pay 20 billion-25 billion forints in taxes each day.

Everything possible must be done to conserve energy, but compensation is also needed, he said.

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