Gas rates for Ukrainians households will jump over 50 percent as of May 1
Last edited Wed Apr 30, 2014, 02:47 PM - Edit history (3)
New retail rates of natural gas for households are coming into force in Ukraine as of May 1. The hike exceeds 50 percent.
http://www.kyivpost.com/content/ukraine/gas-rates-for-ukrainians-will-jump-over-50-percent-as-of-may-1-345761.html
Nothing to do with Gazrom : that was a condition imposed by the IMF - that gas prices to consumers be increased to at least the level of cost to government i.e. no more subsidies.
26 March 2014 Ukraine agrees to 50% gas price hike amid IMF talks.
Ukraine's interim government says it will raise gas prices for domestic consumers by 50% in an effort to secure an International Monetary Fund (IMF) aid package.
An official at Ukraine's Naftogaz state energy company said the price rise would take effect on 1 May, and further rises would be scheduled until 2018.
Ukrainians are accustomed to buying gas at heavily subsidised rates.
see : Other needed reforms include restructuring the country’s foreign debt and raising retail gas prices for most consumers. The country’s state-owned utility charges consumers about a quarter of the price it pays to import the fuel. Reducing the subsidies to all but the poorest households and increasing tax collection will add to the revenues available to invest in public services and other sources of energy like renewables. http://www.nytimes.com/2014/03/14/opinion/fixing-ukraines-economy.html?_r=0
But the IMF has made subsidy reform a condition of its deal.
http://www.bbc.co.uk/news/business-26758788