Where will Ukrainian energy companies direct ₴50B in revenue from increased electricity tariffs?

Analysts have calculated that the increase in consumer electricity prices will generate an additional ₴50B for state energy companies Energoatom and Ukrhydroenergo in 2024.

The tariff increase will allow Energoatom to spend less on obligatory consumer price subsidies, increasing its profit. Ukrhydroenergo will use the additional money received to restore its damaged hydroelectric plants, while Energoatom will use it to build new nuclear power units.

The Ministry of Energy stated that increasing the electricity tariff for household consumers is necessary to restore the damaged state power generation network. This year, the government increased the consumer electricity price to ₴4.32 per kWh. For comparison, at the end of 2023, in the EU countries, the average tariff for household electricity was €0.2226 per kWh, or ₴9.39.