Ukraine is not going to raise electricity prices for households in the context of the war unleashed by Russia, Energy Minister Herman Haluschenko has said.

"Of course, no one will raise tariffs. I think we will now develop a certain algorithm that would help all generating companies to calmly go through this period," Haluschenko said in an interview with Interfax-Ukraine on Wednesday.

He said that he was inclined to preserve the current model of public service obligations (PSO) for the supply of electricity to households in the electricity market, although the drop in the level of payments for electricity, including by household consumers, also affected the generation of PJSC Ukrhydroenergo and National Nuclear Generating Company Energatom participating in the PSO scheme.

"There are questions about how to balance it all. We are working on it. There are radical ideas, but I am in favor of maintaining the existing scheme," the minister said.

As reported, according to Haluschenko, the level of settlements in the electricity market has fallen by 30% since the beginning of the war.

The current financial PSO model covers the period from October 1, 2021 to April 31, 2022. According to this model, Energoatom and Ukhydroenergo were given the right to sell electricity on the market and use their income to compensate universal service providers for tariffs for households. As part of the introduction of a new PSO model for consumers with a consumption volume of 250 kWh/month, a lower tariff was set – UAH 1.44 per kWh. The Ministry of Energy calculated that there are about 80% of such consumers. For all others, the previously set tariff of UAH 1.68 per kWh applies.