Armenia’s PSRC approves new prices for electricity generating and supplying companies

Armenia’s PSRC approves new prices for electricity generating and supplying companies

YEREVAN, July 1. / ARKA /. Armenia’s Public Services Regulatory Commission (PSRC) has ruled today unanimously to allow electricity generating and distributing companies to raise the prices.

Garegin Baghramyan, head of a PSRC department in charge of price policies, said the regulator allowed the Metsamor nuclear power plant to sell its electricity at 5.726 drams per 1 kWh, the Hrazdan thermal power plant will sell it at 36.925 drams, the Yerevan thermal power plant will sell it at 18.133 drams, the Vorotan Cascade of hydropower plants will sell electricity at 7.978 drams per 1 kWh, the fifth unit of the Hrazdan TPP, owned by Gazprom Armenia will sell it at 40.08 drams per 1 kWh. 

Baghramyan added that the tariff for electricity transmission by High Voltage Networks company is set at 1.6373 drams for 1 kWh. He also said that the price hike is meant to ensure the financial stability of power companies and safe energy supplies.

In this regard, he noted the need for a major rehabilitation of the Yerevan TPP, also the repayment of loans attracted by the facility and to secure independent water supply to the nuclear power plant because of upgraded safety requirements. 

In addition, he said, the High Voltage Networks has to repay government-guaranteed loans.

The PSRC has also  approved today almost a 10 percent rise in electricity prices for households allowing  the Electrical Networks of Armenia distributor  to charge 41.85 drams per 1 kWh of electricity during daylight hours (from 7:00 to 23:00), up from  current 38 drams  and 31.5 drams for night hours  (from 23:00 to 7:00),  up from current 28 drams. The decisions come into force on 1 August 2014. ($ 1 -  amd 407.28). M.V.---0-¬¬¬---

16:35 01.07.2014

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