You're reading: Naftogaz: Ukraine plans from May 1 to increase gas price for public by 50%

 Ukraine plans from May 1, 2014 to increase the price of natural gas for household consumers by an average of 50%.

 The director of the department for economic planning and budgetary
calculations at National Joint Stock Company Naftogaz Ukrainy, Yuriy Kolbushkin, said at a press
conference in Kyiv that the increase will occur as part of a scheme of
phased increases of gas prices to an economically justified level for
households and heating companies running until 2018.

He also said that it is planned from July 1 to raise tariffs for heating enterprises by 40%.

Kolbushkin said that in this case this concerns raising tariffs for
heating companies, but not imposing a 40% increase in natural gas prices
on them.

He added that the relevant resolutions of the Cabinet of Ministers
should be promulgated in the near future, afterwards prices and tariffs
for the population and heating companies would be approved by the
National Commission for Energy Regulation and the National Commission
for the State Regulation of Housing and Utilities Services.

Naftogaz chairman Andriy Kobolev, in turn, specified that the
corresponding increase in gas prices for the population in 2014 has been
agreed with the International Monetary Fund (IMF).

According to him, even given this increase, 100% payments for the gas
supplied by domestic consumers and friendly relations with Gazprom, the
company’s budget deficit in 2014 is about UAH 80 billion.

In this regard, according to the new Naftogaz head, one of the
priorities for the company is to stabilize its financial state and fight
against corruption.