Armenian parliament speaker blames electricity price hike on dram devaluation
15.06.2015,
17:00
One of the major reasons behind the planned rise in the price of electricity sought by the national power distribution company Electric Networks of Armenia (ENA) is the devaluation of the Armenian national currency, the dram, against US Dollar, according to parliament speaker Galust Sahakyan.
YEREVAN, June 15. / ARKA /. One of the major reasons behind the planned rise in the price of electricity sought by the national power distribution company Electric Networks of Armenia (ENA) is the devaluation of the Armenian national currency, the dram, against US Dollar, according to parliament speaker Galust Sahakyan.
Armenia's Public Services Regulatory Commission (PSRC) is expected to allow the Russian-owned ENA to raise the daytime price (from 7 am to 11 pm) by 6.93 drams per one KWh to 48.78 drams and the nighttime price to 38.78 drams (VAT included), when it meets on June 17. The decision, if approved, will come into force from 1 August.
Speaking today to local reporters Sahakyan said the rise is primarily due to a revaluation of the USD against the Armenian currency by 60 drams.
Sahakyan also criticized a recent interview ENA CEO Yevgeny Bibin gave to local news agencies. 'The interview creates an impression that Bibin is accused of a crime and is trying to find new suspects,' he said.
In the interview Bibin said one of the key reasons for the increase in the electricity price is the need for structural changes in the energy system, saying the company's repeated appeals to the government and the PSRC to address the problem remained unanswered.
On May 8 the Electricity Networks of Armenia asked the Public Services Regulatory Commission to allow it to raise the price of electricity a third time in less than two years by 17.08 drams per one KWh. The company asks for a permission to increase the daily rate (from 7 am to 11 pm) from the current 41.85 drams per 1 kWh to 58.93 drams and the night rate (from 11 pm to 7:00 am) from the current 31.85 drams per 1 kWh to 48.93 drams.
The tariff went already up 27 percent in July 2013 because of the increased cost of Russian natural gas, which generates more than one-third of Armenia’s electricity. The PSRC raised it by another 10 percent in July 2014, citing the need to end the company’s mounting losses. ($1 – 476.62 drams). –0—
Armenia's Public Services Regulatory Commission (PSRC) is expected to allow the Russian-owned ENA to raise the daytime price (from 7 am to 11 pm) by 6.93 drams per one KWh to 48.78 drams and the nighttime price to 38.78 drams (VAT included), when it meets on June 17. The decision, if approved, will come into force from 1 August.
Speaking today to local reporters Sahakyan said the rise is primarily due to a revaluation of the USD against the Armenian currency by 60 drams.
Sahakyan also criticized a recent interview ENA CEO Yevgeny Bibin gave to local news agencies. 'The interview creates an impression that Bibin is accused of a crime and is trying to find new suspects,' he said.
In the interview Bibin said one of the key reasons for the increase in the electricity price is the need for structural changes in the energy system, saying the company's repeated appeals to the government and the PSRC to address the problem remained unanswered.
On May 8 the Electricity Networks of Armenia asked the Public Services Regulatory Commission to allow it to raise the price of electricity a third time in less than two years by 17.08 drams per one KWh. The company asks for a permission to increase the daily rate (from 7 am to 11 pm) from the current 41.85 drams per 1 kWh to 58.93 drams and the night rate (from 11 pm to 7:00 am) from the current 31.85 drams per 1 kWh to 48.93 drams.
The tariff went already up 27 percent in July 2013 because of the increased cost of Russian natural gas, which generates more than one-third of Armenia’s electricity. The PSRC raised it by another 10 percent in July 2014, citing the need to end the company’s mounting losses. ($1 – 476.62 drams). –0—
