The Cabinet of Ministers and the national oil and gas company Naftogaz Ukrayiny have agreed to reduce the regulated gas price for households and thermal energy generation companies by May 2019.
The company's press service said that Naftogaz and government representatives have developed a new mechanism for calculating the regulated price. The new mechanism makes it possible to reduce the cost of gas for households and thermal energy generation companies down to 8,247 hryvnyas per 1,000 cu.m.
In addition, the mechanism provides that if the market price of gas for industrial consumers is lower than that the one established by the Cabinet of Ministers on 19 October 2018, the gas price for households will decrease accordingly.
If the market gas price for industrial consumers increases, the price for households will stay the same.
The new price is expected to be effective as of May.
Earlier, Prime Minister Volodymyr Groysman threatened to dismiss Naftogaz chief Andriy Kobolyev unless the gas price is reduced as of 1 May.