The price cap scandal: Kucherenko alleges pressure on the NEURC
23 April 07:30
On the eve of the review of price caps in the energy market, MP and First Deputy Chairman of the Parliamentary Committee on Energy and Housing and Utilities Oleksiy Kucherenko publicly accused Committee Chairman Andriy Gerus of exerting pressure on the NEURC. This was reported by "Komersant Ukrainian", citing Kucherenko’s Facebook post.
In his post, Kucherenko stated that he disagrees with the approach to revising price caps and believes that the government has lost control over pricing in the energy market.
At the same time, the NEURC has indeed published a draft decision on revising price caps, which provides for an increase in certain price caps starting April 30, 2026.
Revising price caps will lead to an increase in market prices for electricity
In his Facebook post, Kucherenko reacted emotionally to the situation surrounding price caps, saying:
“What—was that even allowed?”
He went on to state that, in his opinion, the revision of price caps will lead to an increase in market prices for electricity. According to the MP, the government has “lost control over pricing.”
“As you know, the NEURC is preparing to revise price caps in the energy market. It is clear that this will lead to an increase in market prices. The issue is complex and ambiguous—I, for example, am convinced that the government, due to its lack of professionalism, has completely lost control over pricing (having, of course, failed to create a true market) and has lost control over its judgment and ability to make adequate management decisions,” the politician wrote.
Separately, the deputy claims that during the discussion, he heard about a letter from the committee to the NEURC proposing to raise price caps, after which he publicly denied that this was a decision made by the entire committee.
In his post, he called this “manipulation” and “pressure on the independent regulator.”
“It turns out that Committee Chairman Gerus sent such a letter on committee letterhead, in which he essentially pressures the regulator and even threatens with ‘the Europeans.’ Of course, there was no committee decision, and this is yet another scheme by Mr. Gerus to use manipulation and pressure on the independent regulator to try to push through a decision that benefits him. It goes without saying that I immediately refuted this manipulation by Mr. Gerus!” the MP wrote.
He also claims that the letter in question contains “obvious pressure on the regulator.”
Separately, Kucherenko mentions a potential conflict of interest, citing information about Gerus’s possible ownership of personal or affiliated assets in the energy sector, specifically SES and BESS.
Additionally, he expressed hope that the NABU and SAPO would pay attention to the situation.
In his commentary, the MP went beyond the current dispute and stated that such a “tactic” had allegedly been used before. In particular, he mentioned the promotion of imports from Russia and Belarus, as well as electricity supplies from Belarus in 2021–2022.
What is known about the NEURC’s review of price caps
The NEURC has indeed published a rationale for a draft resolution on revising price caps in the “day-ahead,” intraday, and balancing markets.
The document proposes setting a maximum price cap of 15,000 UAH/MWh for the day-ahead and intraday markets, and 17,000 UAH/MWh for the balancing market.
The draft also specifies that the new resolution is to take effect on April 30, 2026.
For comparison, the current price cap system, to which the market returned on March 31, 2026, provides for differentiated limits: for the RDN and VDR during nighttime and daytime off-peak hours—5,600 UAH/MWh, during morning and late evening hours—6,900 UAH/MWh, and during the evening peak—15,000 UAH/MWh. In the balancing market, limits currently range from 6,600 to 16,000 UAH/MWh depending on the hour.
The issue of price caps has long been a contentious one in the Ukrainian energy market. The NEURC had already temporarily raised the price caps in January 2026, citing market needs, but as of April 1, the previous limits were reinstated.
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