Ukraine's Ministry of Energy and Coal Industry has used a new formula to validate the unchanged price of natural gas for households until April 1, 2018.

The necessary changes to resolution No. 187 of March 22, 2017, will be submitted to the Cabinet of Ministers for consideration, the ministry wrote on Facebook.

"According to the Energy Ministry's estimates, the gas price for the period from October 1, 2017 to April 1, 2018 will be UAH 5,223.06 without VAT, which is only 5.6% higher than the current price, since the calculated price does not exceed 10% of the current price, there are no grounds for its revision for the 2017-2018 heating season," it said.

According to the current formula, the gas price for import parity for the period from October 1, 2017 to April 1, 2018 is calculated for 12 calendar months before the month of the calculation (June 2016 - May 2017), and the Energy Ministry suggests changing this period to April 2016 - October 2016 and April 2017 - July 2017, to avoid price changes.

"The current price of natural gas at the level of UAH 4,942 (with the trade markup of Naftogaz Ukrainy of UAH 93, or 1.917%) allows Naftogaz to fully perform public service obligations (PSO). It does not lead to losses and does not require additional subsidies and compensation from the national budget," the ministry said.

As reported, government resolution No. 187 foresees the adjustment of the gas price sold under PSO depending on the change of the price at the European hub.

Naftogaz Ukrainy's calculations show that according to the formula presented in the resolution, the price of gas from October 2017 should grow by around 19%.

The Energy and Coal Industry Ministry did not publish the new price in the term set in the Ukrainian law.

Prime Minister of Ukraine Volodymyr Groysman spoke against the increase in gas prices for households. According to him, the Cabinet of Ministers is holding a discussion with the International Monetary Fund (IMF), proving that there is no reason to raise the price of natural gas for households.

This week the Ukrainian delegation is holding talks with the IMF in Washington.