Ukraine’s National Bank warns of rising utility costs starting in 2025

Source: National Bank of Ukraine

Ukrainians facing the prospect of “a gradual increase in utility rates, including gas, heating, and hot water, beginning in 2025”, according to the forecast by Ukraine’s National Bank.

The main drivers behind this anticipated hike are ongoing issues in the energy sector crippled by Russian missile attacks and a tight budget. Analysts suggest that the new rates will be adjusted to “economically justified levels.”

While delaying the rate increases might help reduce inflation, the National Bank warns it could also worsen the financial health of energy companies and heighten instability risks in the energy market.