Business news from Ukraine

Business news from Ukraine

“Energoatom” Paid 165.3 Bln UAH for Public Service Obligations Over Nine Months

JSC “NAEK “Energoatom” has fully fulfilled its special obligations to ensure the availability of electricity for residential consumers (PSO), aimed at making it more affordable, by covering 100% of the cost of the service for January–September 2026, totaling 165.322 billion UAH (including VAT).

“Over the first nine months of 2026, the company paid 165 billion 322 million UAH (including VAT) for the PSO service. There is no outstanding debt to JSC ‘Guaranteed Buyer’ (‘GarPok’) for the PSO service,” according to a statement on the Energoatom website.

As previously reported, over the course of the full-scale war waged by the Russian Federation against Ukraine—from 2022 to 2025—“Energoatom” paid over 528.900 billion UAH (including VAT) for the PSO service.

In 2025, “Energoatom” paid 168.546 billion UAH for the PSO and transferred over 44.5 billion UAH to the state budget.

The Cabinet of Ministers of Ukraine, by Order No. 399-r dated April 29, 2026, “On the Annual General Meeting of JSC NAEK ‘Energoatom,’” approved a net profit of 18,688,306,075 UAH, in accordance with the company’s consolidated financial statements for 2025. The government allocated 50% of the profit—amounting to 9,344,153,037.5 UAH—to the state budget as dividend payments.

, , , ,

Kyiv, Budapest and Podgorica topped the ranking of the cheapest electricity in Europe

Kyiv ranked first among 33 European capitals for the lowest electricity costs for households in September 2026, reports the Experts Club information and analytical center. The cost of one kilowatt-hour, including taxes, in the Ukrainian capital was 8.4 euro cents, according to data from the international Household Energy Price Index (HEPI) study, published by Euronews Business on October 14.

Budapest ranked second at 10.3 euro cents per kWh, while Podgorica came third, where electricity cost 11.3 euro cents. The five cheapest capitals also included Belgrade (11.6 euro cents) and Valletta (12.3 euro cents).

The average cost of electricity in the capitals of European Union countries was 27.2 euro cents per kWh. Thus, electricity in Kyiv was approximately 69.1% cheaper than the EU average, in Budapest 62.1% cheaper, in Podgorica 58.5% cheaper, and in Belgrade 57.4% cheaper.

The most expensive electricity for households was recorded in Brussels, where the price reached 41.3 euro cents per kWh. It was followed by Berlin (39.6), Dublin (38.7), Bern (38.6) and London (38.3).

Among other European capitals, high tariffs were recorded in Rome (36.6 euro cents), Vienna (34.4) and Prague (34.3). In Madrid, electricity cost 28.3 euro cents per kWh, and in Paris, 28.1 euro cents.

The difference between the most expensive and the cheapest capitals was almost fivefold: 41.3 euro cents in Brussels compared with 8.4 euro cents in Kyiv.

According to HEPI, from the beginning of February to the beginning of September 2026, the average cost of electricity for households in EU capitals increased by 4.2%. Meanwhile, natural gas prices rose by 12% over the same period.

The differences between European capitals are explained by the structure of their energy mix, dependence on imported energy resources, tariff policies, taxes and government mechanisms for supporting households.

At the same time, researchers emphasize that comparing nominal tariffs does not fully reflect the affordability of electricity for the population. When purchasing power is taken into account, the ranking changes significantly, as household incomes and overall price levels differ considerably across European countries.

The Household Energy Price Index study has been conducted monthly since 2009 with the participation of the Austrian energy regulator Energie-Control, the Hungarian regulator MEKH and the international consulting company VaasaETT. It covers 33 European capitals and takes into account supplier tariffs, network charges, taxes and government subsidies.

Source: Household Energy Price Index, September 2026.

, , , ,

Gas bills in Romania will rise by 20% this winter

More than 2 million consumers are already receiving new offers from suppliers for the 2026–2027 heating season. The stated price of gas is about 34 bani per kWh—approximately 20% higher than in the previous season.

The heating season will run from November 1, 2026, to March 31, 2027. At the same time, the final amount on bills will depend not only on the established tariff cap but also on the actual cost of gas purchased by suppliers for storage and additional deliveries during the winter.

Gas prices on the European market currently remain high. As a result, energy experts are warning of the risk of a significant increase in heating costs, especially for large buildings and high-consumption businesses.

Rising gas prices may also affect the prices of goods and services, as businesses factor higher heating and energy costs into their budgets.

, , , ,

Trump calls Canadian leadership “clowns” and threatens harsher economic consequences

U.S. President Donald Trump has sharply stepped up pressure on Canada amid an escalating trade conflict between the two countries, calling Canadian leaders “clowns” and warning of significantly harsher economic consequences if Ottawa does not change its position.

Trump published the statement on Truth Social on August 24, 2026, following a new exchange of accusations with Canadian Prime Minister Mark Carney and Ontario Premier Doug Ford.

“America has carried Canada on its back for decades, but that will no longer happen,” the U.S. president wrote. At the end of his message, he called for the Canadian leadership to be made to “fall in line,” otherwise the consequences for the country would be “much worse.”

Trump spoke particularly harshly about Doug Ford, who had previously threatened to use electricity and critical mineral supplies to the United States as a retaliatory measure against U.S. tariffs.

The U.S. president also said that Canada was economically dependent on the United States and noted that a significant share of the electricity, oil and gas received by the country was transported through U.S. territory.

Official statistics, however, show a more complex picture. The two countries’ energy systems are indeed extremely closely interconnected, but Canada remains a major net exporter of energy resources to the United States.

According to the Canada Energy Regulator, in 2025 Canada exported CAD157.5 billion worth of oil, petroleum products, natural gas and gas condensate to the United States, while importing only CAD34.4 billion worth of similar products from the United States.

About 90.8% of Canadian hydrocarbon exports were sent specifically to the United States. In particular, Canada exported 4.3 million barrels of oil per day, of which about 3.9 million barrels went to the U.S. market.

In the opposite direction, Canada imported about 0.5 million barrels of oil per day, with approximately 76% of these supplies coming from the United States. Canada is also a major net exporter of natural gas: in 2025, it supplied about 8.6 billion cubic feet of gas per day, almost entirely to the United States, while simultaneously importing 2.5 billion cubic feet per day, predominantly from the United States.

The two countries’ electricity systems are also integrated. In 2025, Canada exported 32.7 TWh of electricity to the United States and imported 22.1 TWh. At the same time, all of Canada’s international electricity trade is conducted with the United States.

Thus, Trump’s statements have some basis in terms of the Canadian economy’s high dependence on U.S. transportation and energy infrastructure. At the same time, however, Canada is one of the most important suppliers of energy resources to the United States itself. In 2025, it accounted for 63.4% of U.S. crude oil imports, almost 100% of natural gas imports and 81.3% of electricity imported by the United States.

Trump’s statements followed the collapse of U.S.-Canadian trade negotiations.

The United States has already imposed 50% tariffs on approximately $20 billion worth of Canadian goods, while on August 24 Trump additionally threatened to raise tariffs on all cars, trucks and automotive components imported from Canada to 50% beginning January 1, 2027.

Washington had previously proposed reducing duties on Canadian passenger cars and light trucks from 25% to 15% and on steel and aluminum from 50% to 25% as part of an agreement. The negotiations collapsed, however, because of several disagreements.

Canada is preparing retaliatory measures. Ottawa announced that it would impose retaliatory tariffs on U.S. goods beginning September 8, while provincial authorities have not ruled out using energy and critical minerals as additional instruments of pressure.

Ontario Premier Doug Ford said that, in the event of further escalation, “everything is on the table,” including restrictions on supplies of electricity and strategic raw materials. According to him, electricity from Ontario supplies about 1.5 million homes and businesses in the United States.

Canadian Prime Minister Mark Carney, in turn, said that Ottawa was prepared to return to negotiations only if Canada was treated as a sovereign partner rather than as a territory dependent on the United States.

Trade relations between the two countries remain among the largest in the world. In 2025, trade in goods and services between the United States and Canada amounted to approximately $872.3 billion, with about three-quarters of Canadian merchandise exports going to the U.S. market.

Another claim made in Trump’s message is not supported by official statistics. The U.S. president said that unemployment in Canada had reached 10%, while the latest data from Statistics Canada showed that it stood at 6.4% in July 2026 — its lowest level in two years.

, , , ,

“Energoatom” Paid 141.4 Bln UAH for Public Service Obligations in January–July

JSC NAEK “Energoatom” has fully fulfilled its special obligations to ensure the availability of electricity for residential consumers (PSO), aimed at making it more affordable, by covering 100% of the cost of the service for January–July 2026, totaling 141.448 billion UAH (including VAT), the company reported on Tuesday.

“The company continues to bear the key financial burden within the social tariff support system. Thanks to NAEK’s contributions, the state maintains the electricity tariff for millions of Ukrainian families at a level below the market rate,” Energoatom noted.
Currently, Energoatom has no outstanding debt to JSC “Guaranteed Buyer” for the PSO service.

In total, during the years of Russia’s full-scale war against Ukraine—from 2022 to 2025—Energoatom paid over 528.900 billion UAH (including VAT) for the PSO service.
As previously reported, in 2025, “Energoatom” paid 168.546 billion UAH for the PSO and transferred over 44.5 billion UAH to the state budget.

The Cabinet of Ministers of Ukraine, by Decree No. 399-r dated April 29, 2026, “On the Annual General Meeting of JSC NAEK ‘Energoatom,’” approved a net profit of 18,688,306,075 UAH, in accordance with the company’s consolidated financial statements for 2025. The government allocated 50% of the profit, amounting to 9,344,153,037.5 UAH, for the payment of dividends to the state budget.

, , , ,

Water Rates in Ukraine Rose by More Than 30% in July — State Statistics Service

The cost of water supply in Ukraine in July 2026 rose by 31.9% compared to June, while the cost of sewer services rose by 29.8%, according to data from the State Statistics Service. On a year-over-year basis, water supply prices rose by 52.1%, and sewerage services by 48.8%. A similar increase was recorded compared to December 2025.

As a result, the entire “housing, water, electricity, gas, and other fuels” group rose in price by 1.6% month-over-month in July and by 4.5% compared to July of last year.

The cost of garbage collection rose by 5.1% month-over-month and by 16.2% year-over-year. Maintenance of buildings and surrounding areas rose by 5.8% year-over-year.

At the same time, the statistical cost of electricity, natural gas, hot water, and heating in July remained unchanged both compared to June and year-over-year.

Thus, the July spike in the utility component was primarily due to a sharp increase in the cost of water supply and sewer services.

, , , ,