Electricity shortages will increase inflationary pressure – NBU governor

Electricity shortages will increase inflationary pressure – NBU governor

Ukrinform
According to estimates of the National Bank, electricity shortages will increase inflationary pressure by 1-2 percentage points in 2023.

NBU Governor Andriy Pyshnyy said this at a briefing on Thursday, an Ukrinform correspondent reports.

"According to our estimates, electricity shortages will increase inflationary pressure by 1-2 percentage points in 2023," said Pyshnyy.

He noted that the National Bank is considering several scenarios of electricity deficit. The first scenario envisages prompt restoration of the energy infrastructure and effective air defense.

"According to our calculations, electricity shortages in this scenario should not exceed 25%. It is this scenario that we consider as the basic one," Pyshnyy said.

 At the same time, he noted that the second scenario involves more damage to critical infrastructure and slower recovery. Actually, this is what was observed following the November 23 attack, Pyshnyy said.

As Ukrinform reported, Russia’s massive missile attack on November 23 led to a temporary blackout of all nuclear power plants, most thermal power plants and hydropower plants across Ukraine. Electric power transmission facilities were also damaged.

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