Armenian regulator raises electricity tariffs

Armenian regulator raises electricity tariffs

YEREVAN, July 1. /ARKA/. Armenia’s Public Services Regulatory Commission raised the electricity tariffs at its meeting on Tuesday.

In particular, the tariff for electricity supplies by the Electric Networks of Armenia will be 41.85 drams per kilowatt-hour in daytime (from 7:00 to 23:00) compared to the current 38 drams, and 31.85 drams per kilowatt-hour at nights, compared to the current 28 drams. The decision comes into effect on August 1, 2014.

The opposition forces who were present at the meeting urged the commission to put off the final decision to seek additional resources to fill up the financial gap. Yet, the head of the commission Robert Nazaryan said they studied the opportunities thoroughly and found no additional option.

Yet, Nazaryan said, if such opportunities emerge, the commission is ready to review its decision before August 1.

A protest is held outside the commission’s building against the increase.

According to preliminary assessments by the commission, an additional of 20 billion drams is required for energy enterprises to ensure financial stability, reliable and safe power supply (VAT excluded). Electricity tariffs are expected to be raised for all customer groups from 3.8 to 4.3 drams per kwt-hour (including VAT) for making up for the financial gap. ($1=407.28drams). -0--

13:58 01.07.2014

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