Ukrainian Prime Minister Volodymyr Groysman says the current power rates for the industry are uncompetitive.

"The prices that are now paid by the industry are not competitive. The share of electricity, in terms production costs of different products, is high. No we need to find solutions to optimize power rates. I think this is a problem that should be settled by the end of the new year," he said at a meeting with regional reporters on Monday.

As reported, in the spring of 2017 the National Commission on Energy, Housing and Utilities Services Regulation (NCER) is planning to abolish cross-subsidization in the power sector when industrial consumers subsidize a difference in power rates for private households.