Denys Shmyhal: Electricity price for industry in Ukraine amid the global energy crisis is significantly lower than in Europe

At the initiative of the President of Ukraine, the electricity tariff for 80% of Ukrainian families was reduced to UAH 1.44 per kWh from October 1 this year. This was stated by Prime Minister Denys Shmyhal during a working trip to Zaporizhia region.

The Head of Government noted that for households with a monthly level of consumption of more than 250 kWh, the electricity tariff remains unchanged.

"Electricity tariffs for the population are set by the Government, and in Ukraine this tariff is the lowest among all European countries. Moreover, on October 1, a decision was made to reduce electricity tariffs, and we do not plan to increase them. The Government understands that in the conditions of coronavirus pandemic it is necessary to support people ", Denys Shmyhal noted.

The Prime Minister dwelled on that the price of electricity for industry in Ukraine is determined by market principles: on the basis of direct contracts or on the stock exchange. In October, prices on the spot markets of Ukraine were significantly lower than in Europe.

"Europe and the world are currently experiencing an energy crisis. Energy prices are rising at a record pace. The gas price has reached historic highs. Coal prices have increased 5 times over the past year. At the same time, in October, electricity prices for industry in Ukraine were 25% lower than in Poland, and more than twice lower than in Romania and Hungary, " the Prime Minister stressed.

Background

The price in the United Energy systems of Ukraine in October made up 82 euros / MWh.

The price on the spot market in Poland in October is 103 euros / MWh.

The price on the Slovak spot market in October is 151 euros / MWh

The price on the Romanian spot market in October is 192 euros / MWh

The price on the Hungarian spot market in October is 197 euros / MWh