The Cabinet of Ministers has amended the Regulation on the imposition of special obligations on natural gas market subjects to ensure the public interest. This will keep gas prices for households at around 8 hryvnias per cubic meter until October 1.

This is reported by RBC-Ukraine, referring to the decision of April 29, 2022 № 489.

According to the resolution, Ukrhazvydobuvannya and Chornomornaftohaz shall sell natural gas of their own production from May 1 to September 30, 2022, and Naftohaz Ukrainy shall buy such natural gas at a price of UAH 7,240 per thousand cubic meters including VAT for forming a natural gas resource for household consumers and producers of thermal energy every month.

In the future, Naftogaz Trading Gas Supply Company LLC provides gas suppliers with the resource.

The decree stipulates that gas suppliers must join the balancing group in order to continue selling gas to households from May 1 to September 30, 2022.

Suppliers will receive from Naftogaz Trading a volume of natural gas equal to the volume of actual consumption by household consumers supplied by the supplier in the relevant period.

The price of natural gas that is transferred under agreement between Naftogaz Trading and the supplier is determined at a level that, taking into account the gas supplier's trade mark-up of 60 kopeks per cubic meter including VAT, will be equal to the supplier's basic annual offer valid as of February 24, 2022.

Supplies of natural gas by "last resort" supplier to consumers according to the list of consumers will be carried out at a price of 32,000 UAH including VAT per 1,000 cubic meters of gas.

In addition, the resolution also instructs the Ministry of Energy to prepare and submit a draft resolution to the Cabinet of Ministers of Ukraine by May 15, 2022, on amending the procedure for determining the compensation provided to natural gas market participants subject to special obligations.