The Ukrainian authorities have officially confirmed their intentions to raise utility tariffs again. This is stated in the updated Memorandum with the International Monetary Fund. The letter of intent sent to the IMF management states that tariffs may be revised upwards when appropriate conditions allow, IZ writes.
As stated in the document, “ potential reform measures, as soon as conditions allow, include additional gradual tariff increases (taking into account the new tariff methodology and social considerations) .” This means that the adjustment will occur gradually, taking into account both the economic situation and the needs of vulnerable groups.
In addition, the Memorandum addresses the need for external financing and transparent budgetary support for state-owned energy enterprises. Such support is planned to be provided until the state has sufficient budgetary resources for stable financing of the energy sector.
After the end of the war, in accordance with the agreements, it is planned to gradually increase tariffs for gas and electricity. The government is instructed to prepare a roadmap for the liberalization of energy markets. According to the Memorandum, “ based on the proposal of the Ministry of Energy and proposals from interested parties, the Cabinet of Ministers will adopt a roadmap for the gradual liberalization of the gas and electricity markets within 6 months after the end of martial law .”
Another important step is the adoption of the law on energy market interconnection. This law is expected to accelerate the integration of Ukraine's energy market into the European market, which is part of the country's strategic course towards rapprochement with the EU.
The memorandum with the IMF was signed by Ukrainian President Volodymyr Zelensky, Prime Minister Denys Shmyhal, Finance Minister Serhiy Marchenko, and National Bank of Ukraine Governor Andriy Pyshny. All commitments recorded in the document are voluntary, but are mandatory to fulfill within the framework of cooperation with the Fund.
We remind you that we previously wrote that Ukrainian domestic debt decreased by 15.5 billion hryvnias in February 2025.