Naftogaz Ukrainy when signing contracts starting August 30, 2018 increases the price of gas sold to industrial consumers on a prepayment basis from September 1, 2018 by 20.8% (UAH 2,111) compared to August, to UAH 12,250 per 1,000 cubic meters (including VAT).

According to the company, this price is relevant for consumers buying gas on a prepayment basis in the amount of more than 50,000 cubic meters per month, provided that there are no debts to the company, and for 100% subsidiaries of the company.

For other buyers, the price next month will increase by 20.3% (by UAH 2,255), to UAH 13,338 per 1,000 cubic meters (including VAT).

"The price proposals were adjusted due to a significant change in the components of the price of natural gas, in particular, the growth of quotations on European hubs and the weighted average rate of the hryvnia to the U.S. dollar and the euro," the company said.

Initially, on August 17, Naftogaz announced an increase in prices for industrial consumers starting September 1, 2018 by 4.6% compared to August, to UAH 10,600 and UAH 11,594 per 1,000 cubic meters (with VAT). These prices applied to the contracts concluded for delivery before August 29, 2018 (inclusively).