The National Bank of Ukraine predicts that utility rates may rise in the coming years, particularly from 2026 onwards.

This information is outlined in the inflation report for April.

Current rates for gas, heating, and hot water are expected to remain unchanged this year.

"However, the challenging situation in the energy sector and fiscal consolidation could lead to gradual adjustments of these rates in the future. Specifically, it is expected that rates will begin to align with economically justified levels starting in 2026," the report states.

Delaying rate increases may result in lower inflation but will worsen the financial condition of state energy companies.

"At the same time, risks of instability in the energy market will rise, negatively impacting the investment potential of the sector, and price pressures will simply be deferred to the future," the NBU added.

A rapid increase in energy prices to eliminate imbalances in the energy sector would intensify inflationary pressure and necessitate increased subsidies for the population, according to bankers.

Reminder:

"Naftogaz of Ukraine" has extended the "Fixed Rate" for gas supply to the population until April 2026.

As of May 31, a price of 4.32 UAH/kWh for electricity has been set for all residents of Ukraine, regardless of consumption volume.