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January 2, 2024In Ukraine, an increase in the cost of utility services is expected, particularly for gas, hot water, and heating. However, this is likely to happen no sooner than 2025, when it is anticipated that the moratorium on raising utility tariffs will expire.
This information reported by the National Bank of Ukraine.
As a result, in 2024, Ukrainians will continue paying for these services at the current rates. The National Bank of Ukraine explained that refraining from tariff increases for this duration would help contain price hikes.
“The moratorium on raising tariffs for gas, hot water, and heating will contain administrative inflation. According to the assumptions of this forecast, it will only be lifted in 2025,” emphasized the National Bank of Ukraine.
Additionally, they underscored that there wouldn’t be a sharp surge in prices. More likely scenarios include tariff increases occurring gradually in several stages, accompanied by expanded support for the population through subsidies.
“Despite the necessary balancing in the energy sector, further governmental decisions to align utility tariffs with market levels are expected to consider the high social significance of these tariffs. Therefore, it is expected that their increase will be gradual and will be accompanied by expanded support for the population through subsidies,” explained the National Bank of Ukraine.
During the period from November 2022 to November 2023, utility tariffs in Ukraine increased by 13%. Specifically, electricity prices surged by 69.7%. Additionally, although to a lesser extent, waste disposal tariffs also increased significantly, by 8.7%.
The costs for housing maintenance and repairs increased by 3.9%. Tariffs for services related to managing multi-apartment buildings rose by 2.7%. Moreover:
- Water supply increased by 0.8%;
- Sewage increased by 0.7%.
However, the cost of certain services remained unchanged, including natural gas, hot water, and heating.