Electricity prices surged by 54% in a day: expert Popenko spoke about manipulations in the energy market.

Sharp rise in electricity prices in Ukraine

There was a sudden increase in electricity prices on the domestic market in Ukraine - the cost of electricity rose by 54% in just one day. Experts believe that such a rapid rise in prices is unjustified and does not correspond to the current situation in the market.

“Just imagine: you were paying conditionally 4 hryvnias 32 kopecks, and then suddenly you have to pay 7 hryvnias in one day. And this is possible in Ukraine,” emphasized Oleg Popenko, head of the Consumers' Union of Utility Services.

Experts emphasize that there are no real preconditions for such a price increase. Electricity consumption is decreasing, while prices are rising rapidly, which, according to them, is the result of manipulations by large players in the market.

Inaction of regulators

Oleg Popenko is also outraged by the inaction of regulators. He noted that the lack of response from the National Commission for Regulation of Energy and Public Utilities to such changes harms all Ukrainians who will feel the consequences of such a sudden rise in prices.

“What is the electricity market? It’s all from our wallet. Literally everything we have suddenly became 50% more expensive in one day,” Popenko warned.

Experts point out that this situation in the electricity market harms competition, as large players use price manipulations to oust smaller ones. The problem is that the Ukrainian energy market is unregulated and monopolized, which harms both ordinary consumers and utility companies.

In this situation, it is extremely important to respond and control the actions of large players in the market to avoid further price increases for electricity and maintain competitiveness in the market.