October 27, 2018 / 9:21 AM / 20 days ago

Ukraine to raise households gas prices to market level from 2020

KIEV (Reuters) - The Ukrainian government plans to raise household gas prices from Jan. 1, 2020 to match what state energy company Naftogaz charges the country’s industrial companies, the government said on Saturday.

Gas tariffs are heavily subsidized in Ukraine, which has committed to raise them gradually to qualify for more financial assistance from the International Monetary Fund. It had already announced on Nov. 1 that they would go up by nearly a quarter.

That announcement secured a new $3.9 billion standby aid deal from the IMF, helping the country maintain financial stability and the trust of investors as it heads into a national election next year.

Reporting by Natalia Zinets; editing by John Stonestreet

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