"Common sense on one side and fantasy on the other. And utopian fantasy is killing us - that is also the problem with energy prices," said Viktor Orbán.

Analysts and the European Commission (EC) have pointed out that the main driver of electricity costs in Europe has been rapidly rising gas prices, while the EU carbon market has only contributed to an increase in electricity prices by about a fifth. Brussels has proposed new climate policy measures, which EU countries will have to discuss and approve before they come into effect.