YEREVAN, December 25. / ARKA /. Armenia’s Public Services Regulatory Commission (PSRC) has approved today the 69.6 billion dram worth investment program of the Electrical Networks of Armenia (ENA) power distributor, earmarked for 2014-2018.
Armen Gevorgyan, an advisor to ENA CEO, said the bulk of the investment - 63%- will be used to improve the quality of services, and the rest will be spent on connecting new subscribers. He said the company plans to invest 10.3 billion drams in 2014, 14.3 billion drams in 2015, 15.7 billion drams in 2016, 14.9 billion drams in 2017 and 14.3 billion drams in 2018.
He added that the company will modernize internal networks in 850 buildings and will provide 260 homes with backup power supply.
According to him, it is also planned to connect 26,000 new subscribers to the network, take the brunt off from power substations in downtown Yerevan, replace 25,600 old electric meters and improve the reliability and safe operation of the network.
ENA deputy CEO Vladimir Sazonov described the investment program as a very important step for ongoing development of the system.
The Electrical Networks of Armenia owns and manages Armenia’s medium and low voltage networks. It is also the exclusive seller of electrical power and is owned fully by Russian Inter RAO UES. It has some 950,000 consumers. ($ 1 - 405.28 drams). -0-