Ukrainian Household Prices Fall Further in Oct
Ukrainian residential consumers will pay 4.9% less this month for their gas than in September, state gas supplier Naftogaz said in an October 16 statement. The latest cut to hryvnias 4,273/'000 m3 means household users are now paying 32% less than they were in April, according to the company.
Ukraine regulates household gas tariffs under a formula linked partially to market rates with a two-month lag. Despite a sharp increase in European wholesale gas prices since the summer, it said, tariffs have continued to fall.
The formula-based rate for gas is lower than the price offered for gas supplies from Ukraine’s storage facilities, of hryvnias 4,874/'000 m3. As the price rises seasonally, storage will become more attractive.
Ukraine boasts a ten-year record gas storage volume of around 21bn m3, under Russian measurements. The facilities are still less than 70% full though.