16:26 27.10.2018

Increase in gas prices to help reform Ukraine's energy sector - Volker

1 min read
Increase in gas prices to help reform Ukraine's energy sector - Volker

The increase in the price of natural gas for households will help reform Ukraine's energy sector, U.S. Special Representative for Ukraine Negotiations Kurt Volker has said in an interview with Interfax-Ukraine.

Having taken this step now, Kyiv will begin structural reform of the energy sector in Ukraine and the entire economy. This was necessary because this sector is not as stable as it once was. This decision will also contribute to stability in the energy sector, Volker said.

According to him, gas prices for the population did not correspond to reality.

Volker added that the subsidy system would have to ease price increases for low-income families.

Of course, in winter, when cold weather sets in, price increases may cause difficulties for some people. As I understand, the government is implementing a sufficiently substantial subsidy program for low-income families, which should compensate them for high prices, the diplomat said.

As reported, the price of natural gas for households and heat supply companies will grow by 23.5% from November 1. This issue is key to resuming IMF funding.

The Cabinet of Ministers of Ukraine envisaged UAH 55 billion in the draft state budget for 2019 for subsidies for the population.

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