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Gas prices for Ukraine's population to be reduced by 30%

Source : 112 Ukraine

According to Prime Minister, this does not mean that the country is moving away from market regulation of gas prices
18:21, 13 January 2021

The Ukrainian government has postponed the transition to market gas prices for population
Open source

President of Ukraine Volodymyr Zelensky convened the Cabinet of Ministers, representatives of the National Commission for State Regulation of Energy and Public Utilities, the head of Naftogaz of Ukraine and specialists in the field of economy, electricity and gas energy to address the issue of high gas prices for Ukrainians, the press service of the President's Office reports.

After a long discussion, the parties decided to reduce the price of gas below the market price. This means a reduction by more than 30%.

Related: Protests incited by gas price hike grip Ukraine: Would they escalate into new Maidan?

According to Prime Minister Denys Shmygal, this does not mean that the country is moving away from market regulation of gas prices.

"Today, at a meeting chaired by the President of Ukraine, a decision was made to introduce a state regulation of gas prices for the period of quarantine. This does not mean that we are moving away from market regulation of gas prices, but since the situation is currently extremely difficult with quarantine restrictions, with COVID, with the possibility for people to receive additional income, state regulation will be introduced. Today, some regional gas companies sell gas at a price, which is approximately 10 hryvnias ($0,36) higher, i.e. with the introduction of this regulation there will be a reduction in gas prices by more than 30%,"Denys Shmygal noted.

According to Acting Minister of Energy Yuriy Vitrenko, this decision should be implemented and become fully operational in February.

Related: Ukraine's govt proposes ways to reduce gas tariffs for population

"That is, from February 1, all consumers in Ukraine will pay significantly less for natural gas. I can say that, according to our data, the average price of gas in Ukraine in January was higher than 9,600 hryvnias ($343). Accordingly, the price for the population of Ukraine will be reduced to 6,999 hryvnias($250) on average," Yuriy Vitrenko said.

As we reported earlier, Ukrainians protested against the increase in gas tariffs in a number of cities.

The rallies were held in Ivano-Frankivsk, Poltava, Kherson, Vinnytsia and Lviv regions.

Related: Life-line tariffs for electricity canceled in Ukraine

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