The updated Memorandum of the International Monetary Fund (IMF) as a result of the fifth review of the Extended Fund Facility (EFF) program does not include obligations for Ukraine to increase energy tariffs.
This is stated in the notification of the Ministry of Finance, Ukrainian News Agency reports.
The Ukrainian side, together with IMF experts, is considering possible options for supporting the energy stability of the country, taking into account the significant damage that the russian federation has caused to the energy system of Ukraine and, as a result, its impact on the recovery of the Ukrainian economy.
The IMF memorandum includes various potential options for reforming the energy system.
Ukraine has already successfully passed five revisions of the IMF's EFF program.
Based on the results of each review, the Fund updates the Memorandum in accordance with the updated list of economic and financial policy measures.
The Memorandum that was released after the approval of the program, dated March 24, 2023, as well as its five subsequent updates after each review, included a block on energy sector reform.
All updates to the Memorandum considered the potential for higher energy tariffs as a measure to address the energy sector's problems due to a full-scale war.
At the same time, such a measure is possible only if sufficient and targeted resources are allocated to protect vulnerable households.
The memorandum of October 18, 2024 repeats the potential measures that were in the past updates, does not propose new ones and does not create obligations for Ukraine to increase energy tariffs during the war.
As Ukrainian News Agency earlier reported, the tariff for electricity for the population can be increased to UAH 6-7 per kilowatt, said Volodymyr Moroz, head of the subcommittee on electricity.
The Cabinet of Ministers increased the tariff for electricity for the population by 63.6%, from UAH 2.64 to UAH 4.32 per kWh, from June 2024.
The new tariff will be valid from June 1, 2024 to April 30, 2025.
The National Commission for the State Regulation of Energy and Utilities (Energy Commission) intends to increase the maximum limit prices for the hours from 11:00 a.m. to 5:00 p.m. on the day-ahead market (DAM) and the intraday market (IND) by 23.2%, from UAH 5,600 to UAH 6,900 per MWh.
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