PM Groysman brands Naftogaz "insatiable monopoly" over gas price for households

Ukrainian Prime Minister Volodymyr Groysman has called the National Joint-Stock Company Naftogaz of Ukraine an "insatiable monopoly" over the gas prices the company sets for households, which Groysman says exceed those set in the market.

"Naftogaz has approved prices for June that are higher than the market ones. They plan to do the same with July prices. This is unacceptable, I emphasize. Therefore, we've developed another regulatory document that will prevent Naftogaz from abusing its monopoly position. And they really are a monopoly – I'd like to add one more word here – an insatiable one. I emphasize that we must bring them to senses," he said at a government meeting on Wednesday.

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The prime minister says the government on June 5 will make a decision to oblige Naftogaz to reduce gas prices for households to less than UAH 8,000 (US$294) per 1,000 cubic meters.

According to Groysman, the government will create an ad hoc group that will include the Anti-Monopoly Committee, the State Fiscal Service, the Accounting Chamber of Ukraine, and the State Audit Service to check the formation of gas prices by Naftogaz.