NBU warned about rising utility rates from 2026: what awaits Ukrainians

The National Bank of Ukraine forecasts a rise in utility rates starting from 2026, which could trigger a new wave of inflation in the country.

According to the NBU's inflation report, electricity, gas, and heating tariffs for the population will remain stable until the end of 2025 due to the current moratorium on increases. However, starting next year, the central bank expects a gradual rise in these rates.

'In 2026, a gradual adjustment of these rates to their economically justified levels will begin,' the official NBU document states.

The regulator connects potential decisions to raise rates with the need to normalize the functioning of Ukraine's energy system. At the same time, the NBU warns of the risks of sharp increases in utility prices.

The central bank emphasizes that rapid and sudden increases in rates could lead to a new wave of inflation. The rise in the cost of electricity, gas, or heating will inevitably lead to increases in the prices of other goods and services. Moreover, the government will need to significantly increase the amount of subsidies for the population.

Utility rate increases are expected from 2026, which may lead to a new leak of inflation in Ukraine. The National Bank forecasts that prices for electricity, gas, and heating for the population will begin to rise gradually, potentially causing not only an increase in prices for other goods and services but also a rise in the volume of subsidies for the population.