You're reading: Naftogaz to raise gas price for population by 14.7% in November

Naftogaz Ukrainy in November will increase the price of natural gas for the population and other PSO (public service obligation) consumers by 14.7 percent (Hr 626.24) compared to the price of the previous month, to Hr 4,899 per 1,000 cubic meters (excluding VAT and transportation costs), the Naftogaz press service has said.

At the same time, Naftogaz notes that the indicated gas price for the population is the lowest November price since 2016.

The press service said this month the regulated price of gas turned out to be higher than the price on the terms of Naftogaz’ “gas reserve” offer (Hr 4,874), therefore consumers who took advantage of this offer will save their money.

As reported, according to resolution No. 485 of the Cabinet of Ministers of Ukraine dated June 5, from June Naftogaz is obliged to sell gas to the population at the minimum value out of four prevailing in the market: the average import price according to the Ministry of Economic Development and Trade, the Naftogaz price for industry, the average weighted price at auctions on the Ukrainian Energy Exchange, and special obligations under resolution No. 867.

In November, the lowest price of Naftogaz was the one for commercial consumers under a prepayment basis.