YEREVAN, May 14. / ARKA /. Armenia’s Public Services Regulatory Commission (PSRC) has approved today a one billion drams bank guarantee granted to the Electrical Networks of Armenia by the Russian-owned VTB Bank (Armenia).
On April 16 the Electrical Networks of Armenia was penalized by the PSRC in the amount of 5 million drams for violating the procedure for transfer and accumulation of funds on special and warranty accounts.
The Electrical Networks of Armenia is a 100% subsidiary of Russian INTER RAO UES. The company has an exclusive license for transmission and distribution of electricity in the territory of Armenia. It has more than 967,000 customers and 7,800 people on its payrolls. ($ 1 - 413.35 drams). -0 -