OREANDA-NEWS. February 8, 2008. Thermal coal prices will be raised by 27% in 2008, the Minister of Coal Viktor Poltavets expressed today at a press-conference in Donetsk.

“The issue has already been settled with energy sector representatives. This year we shall raise the thermal coal price by 27%. Firstly, this will result in an additional UAH 900 m approximately. Secondly, we have included the decision regarding thermal and coking coal prices into the Government’s actions,” says Poltavets.

He noted that the coal-coke-metal chain “is to be brought in line from the other side: it should pass from the metal price to the coal price”.

“As far as thermal coal is concerned, now we work on the issue of bringing the coal price in line with the other types of fuel, including gas. It is natural that the current price for thermal coal is inconsistent and unbalanced. The Government’s task is to balance everything in some way. We cannot continue subsiding the whole branches at our own expense, including the energy sector”, concluded Poltavets.