Ukraine will stop regulating gas prices for the first time this winter, Naftogaz CEO Yuriy Vitrenko said Wednesday
KIEV (Pakistan Point News / Sputnik - 20th October, 2021) Ukraine will stop regulating gas prices for the first time this winter, Naftogaz CEO Yuriy Vitrenko said Wednesday.
"This winter will be the first when there will be no state regulation of gas prices at all," Vitrenko said, as quoted by the UNIAN news agency.
Ukraine started to deregulate gas prices for industry several years ago and last year for households. Vitrenko noted that gas prices a year ago were "about 10 times lower."
The executive added that the company has enough gas to meet all the needs of the population, but "the situation is difficult" with state-funded organizations. Deputy Head of the Ukraine President's Office, Kirill Tymoshenko, said there is enough gas in underground storage facilities in the country for the needs of the population and the social sphere.
Ukraine's Prime Minister Denys Shmyhal in turn said the country is "absolutely ready" for the heating season, with almost 19 billion cubic meters of gas in underground storage facilities. The official added that all budget institutions have signed agreements with Naftogaz of Ukraine to receive gas at a discounted price.
This year, for the first time in Ukraine, prices for heat and hot water will be set by local governments. In order to prevent price increases, the national government and local authorities have agreed to sign a memorandum which provides for subventions to compensate for part of the costs of heating supply.
