I fully share their concerns, because the price of electricity strongly affects the competitiveness of Ukrainian industrial products in international markets. This is especially true for the metallurgy and cement industries, the most energy-intensive ones. The draft resolution of the National Energy and Utilities Regulatory Commission of Ukraine provides for an increase in the electricity transmission tariff in 2026 to 786.74 UAH/MWh, or by 14.6%, compared to 2025. For green metallurgy, the tariff is to be set at 428.63 UAH/MWh.
At the same time, I completely reject accusations and claims that Ukrenergo is allegedly provoking an increase in the transmission tariff. My arguments are as follows.
First of all, Ukrenergo is a natural monopolist, which means that it does not set tariffs on its own. According to the Ukrainian legislation, this is done exclusively by the state body – NEURC.
Second, I do not think that the management of Ukrenergo is very happy to perform a function that is not typical for a transmission system operator – performance of special duties to raise the share of power generation from alternative energy sources – 358.11 UAH/MWh. These costs are not related to the company's activities, but are used to the benefit of the renewable energy sector, which operates under a green tariff. If it were not for this obligation specified in the Law of Ukraine "On the Electricity Market", the transmission tariff would be 45% lower.
Third, before 2024, Ukrenergo provided about 90% of all loans to the energy industry, since it was the most trusted among all Ukrainian state-owned energy enterprises. However, after one of the Mindichgate figures, Mr. H. Halushchenko, deliberately destroyed the company's corporate governance system in September 2024, it found itself in default and remains so to this day. This does not allow optimizing its financial costs without raising the tariff.
Fourth, Ukrenergo is conducting a large-scale campaign to build protective structures at substations and is spending significant funds on repairs after Russian air attacks. As we know, Ukrenergo facilities are among the main targets of the Russian military terror.
Is it possible for the NEURC not to raise the transmission tariff? I am sure that such an opportunity does not exist, because the Regulator is obliged to comply with the legislation on PSO for green energy and provide the necessary funds to the basic energy company of Ukraine - Ukrenergo.
Industrialists should realize that the main reason for the electricity price rise is not the ill will of the NEURC or Ukrenergo, but the current electricity market model using PSO for households and the renewable energy sector, provided by the law. At the same time, the military factor led to the destruction and occupation of more than 50% of all generating capacities, which caused a systemic deficit, resulting in the price rise on the market.
Noteworthy, the share of the TSO transmission tariff in the final electricity price for the commercial segment does not exceed 8%, and the projected growth of this tariff in 2026 will make about 1% in the final consumption. Therefore, I am surprised why industry lobbyists focus on this 1%, not on the necessary change in the market model with PSOs, whipping up electricity prices much stronger. It is clear that the price for households under this market model in no way depends on the value of the transmission tariff.
