The National Bank of Ukraine anticipates potential hikes in utility rates over the coming years, particularly from 2026 onwards.

This information is included in the inflation report for April.

Rates for gas, heating, and hot water are not expected to be revised this year.

"However, the challenging situation in the energy sector and fiscal consolidation are likely to lead to gradual adjustments of these rates in the coming years. Specifically, a move towards economically justified levels is expected to begin in 2026," the report states.

Delaying the increase in rates may result in lower inflation, but it will negatively impact the financial health of state energy companies.

"At the same time, risks of instability in the energy market will rise, the investment potential of the sector will worsen, and price pressures will only be postponed to the future," the NBU continued.

Conversely, a quick and significant increase in energy prices to address imbalances in the energy sector could intensify inflationary pressure and necessitate higher subsidies for the population, according to bankers.

Recall:

"Naftogaz of Ukraine" has extended the "Fixed Tariff" for gas supply to households 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.