The National Bank of Ukraine predicts an increase in tariffs for utility services, in particular for gas, heating, and hot water, starting in 2026. This is stated in the April “Inflation Report” of the NBU.
In 2025, tariffs will remain unchanged, but they are planned to gradually be brought to an economically reasonable level starting in 2026. This decision is due to the need to stabilize the energy sector and fiscal consolidation.
According to the National Bank, maintaining current tariffs will contribute to lower inflation in the short term, but at the same time will worsen the financial condition of state-owned energy companies and increase risks to energy stability. In addition, too sharp an increase in tariffs in the future may lead to increased inflationary pressures and will require the expansion of subsidy programs for the population.
Thus, a gradual adjustment of tariffs will be a necessary step to ensure the stability of the energy market and attract investment into the sector.
