Gerus: Electricity prices for non-domestic consumers in Ukraine may be cut by 20%

Ukrainian President Volodymyr Zelensky's envoy to the Cabinet of Ministers Andriy Gerus has announced that an agreement was reached at a meeting with representatives of the Cabinet and relevant departments about three steps required to reduce electricity prices for non-domestic consumers by 20%.

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First, the Cabinet of Ministers should approve the resolution on imposing special obligations on state-owned energy generating companies, namely Energoatom and Ukrhydroenergo.

"We expect the resolution will reduce the Ukrenergo's tariff by more than three times. Now it's 32 kopiykas per kWh, and it's expected to be eight or nine kopiykas [per kWh]," Gerus told a briefing, following the meeting arranged by Zelensky on August 19.

According to Gerus, another factor that will contribute to the cheapening of electricity should be the change in price caps. He noted the night price of electricity should be raised by 10%, while the daily price cut by 20%.

"Thus, this may additionally reduce the final tariff for consumers by another 9%," Gerus said.

The official says if these measures are implemented, tariffs for all non-domestic consumers may be reduced by about 20%.