Naftogaz raised gas prices for industrial companies by almost 20%

According to the message of Naftogaz of Ukraine National Joint Stock Company, starting 1 November, the company will increase gas prices for industrial consumers by 18.4–19.6% compared to October.

Starting next month, Naftogaz will sell gas at the price of ₴5,861—6,463 per one thousand cubic meters, without including VAT and the cost of gas transportation through main and distribution pipelines. The price with VAT included will amount to ₴6,463–7,755 per one thousand cubic meters.

The company differentiates these prices depending on the purchase volume and payment terms.

Naftogaz says that an almost 20% increase is due to a hike in gas prices in the EU countries, Ukraine’s main gas importers.

“Specifically, gas prices in the EU hubs with delivery in November are almost double the current prices,” Naftogaz said in its message.

According to GMK Center, Ukrainian steelmakers are gradually increasing their energy efficiency in the meantime. According to Ukrmetallurgprom, the Ukrainian mining & metals sector consumed 140 million cubic meters of natural gas in September 2019, 7% down from August.

Over 9 months, steelmaking companies consumed some 1.4 billion cubic meters of gas, only 1% up from the same period of 2018. Yet, as was reported earlier, the mining & metals sector consumed 740 million cubic meters of gas in January — May 2019, 6% down from the same period of 2018.