Cabinet of Ministers Lifts Price on Natural Gas

According to the draft of the Cabinet’s ruling, in 2008 the gas price cap for industrial and budget consumers will be increased by 33%, from UAH 720.0 (USD 104) to UAH 959.7 (USD 191.9) per th m3 (tcm). For municipal heating enterprises the increase (to UAH 891.9/tcm) will be delayed until 2H08, yielding a year-average price of UAH 788.9/tcm (USD 157.8$) and yoy increase of 15%. The ruling also assumes the doubling one additional fee, from 2% to 4%.