National joint-stock company Naftogaz Ukrainy is agreeing the reduction of the upper limit of tariffs for households with the International Monetary Fund (IMF) if the price of imported gas is lower than $209 per 1,000 cubic meters, Naftogaz Board Chairman Andriy Kobolev said in Kyiv on Wednesday.

“When the price of imported gas falls lower $209, the government would have a chance, if the IMF agrees to this, to cut this UAH 7,188 per 1,000 cubic meters [the upper tariff for households],’ he said.

Kobolev said that the price of $209 is equivalent to UAH 5,044 (taking into account the projected hryvnia exchange rate for 2016 – UAH 24.10.$1), which is equal the price of gas as a commodity included in the current tariff – UAH 7,188.

“We’ve sent a request to the IMF. We‘ll see what they say if this happens,” he said.

He added that real gas consumption by households will be studied at the end of January and it is likely that beneficial gas volumes for households will be revised as a result.

“As soon as we understand that 1,200 cubic meters [the beneficial volume of gas for one season per household] is not enough, we will propose that the government increases it,” he said.