NBU Reveals Forecast on Gas and Heating Tariffs: What Awaits Ukrainians.

According to the 'Inflation Report' of the National Bank of Ukraine for January 2025, it is forecasted that tariffs for gas, heating, and hot water will remain at their current level throughout 2025.

The National Bank anticipates an increase in excise duties and utility tariffs but does not provide specific details on this matter. 'The forecast is based on the assumption of the stability of certain housing and utility tariffs throughout 2025,' the report states.

However, the challenging situation in the energy sector and the state budget may lead to a revision of tariffs in the coming years. Starting from 2026, a gradual alignment of tariffs with economically justified levels may begin, as predicted by the National Bank.

The National Bank emphasizes that uncertainty regarding the timing and scale of adjustments to energy tariffs poses a separate risk to the inflation forecast. 'A significant increase in the cost of energy carriers for the rapid resolution of imbalances in the energy sector will lead to an increase in inflationary pressure and a need for increased subsidies for the population,' the report notes.

The NBU also warns that delaying decisions regarding the alignment of tariffs with economically justified levels will lead to a decrease in inflation indicators but will create problems for state energy companies.

Currently, a partial moratorium on raising tariffs for gas, hot water, and heating is in place in Ukraine. However, it does not apply to tariffs for electricity and cold water.

Previously, 'Naftogaz' and 8 gas suppliers published tariffs for February.