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24.55 24.9
26.9 27.5
Economy 2019-09-15T04:05:33+03:00
Ukrainian news
Electricity Price For Industry Could Be Reduced By 10% – Zelenskyy’s Cabinet Representative Herus

Electricity Price For Industry Could Be Reduced By 10% – Zelenskyy’s Cabinet Representative Herus

President Volodymyr Zelenskyy’s representative in the Cabinet of Ministers Andrii Herus has said that the price of electricity for industry could be reduced by 10%.

Herus said this in an interview with the RBK-Ukraine publication, the Ukrainian News Agency reports.

"We are currently looking for ways of partially reversing this electricity price increase. in my opinion, the price of electricity can be reduced by at least 10% from the current level," Herus said.

Herus also gave a negative assessment of the new electricity market in its current form.

“I am not a fan of ‘reforms on paper,’ in presentations, and on Facebook. We are implementing reforms not for Europe, the United States, or the IMF, we are implementing reforms for Ukraine. Reforms should benefit residents of Ukraine in real life: businesses and the public. In our country, prices rose by 25% in July. This is the largest one-time increase in the price of electricity in 25 years, with clear consequences for inflation and the economy. That is, it is not a question of energy but a question of economics," he said.

As Ukrainian News Agency earlier reported, the Ukrenergo national power company has said that the weighted average price of electricity for industry increased by UAH 472 per MWh or 29.22% to UAH 2,090 per MWh after the launch of the new market model.

Earlier, the Interpipe pipe and wheel holding (Dnipro) announced that the electricity price for industry increased by 22% to UAH 1.93 per kWh within two days after the launch of the new electricity market.

The new electricity market was launched on July 1.

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