Electric Networks of Armenia asks for a dramatic rise in electricity price
08.05.2015,
19:00
Armenia's Russian-owned national power distribution company - Electric Networks of Armenia - has formally asked today 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, Mariam Stepanyan, a spokeswoman for the PSRC said to ARKA.
YEREVAN, May 7. / ARKA /. Armenia's Russian-owned national power distribution company - Electric Networks of Armenia - has formally asked today 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, Mariam Stepanyan, a spokeswoman for the PSRC said to ARKA.
She said PSRC has 80 days to consider the request. 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 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.
Five major electricity generating companies – the Armenian Nuclear Power Plant, International Energy Corporation, the Yerevan TPP, Hrazdan Thermal Power Plant and Gazprom Armenia (it runs Hrazdan-5 power plant), as well as High Voltage Power Lines and Settlement Center companies have also submitted applications requesting permission to raise their tariffs.
The Electric Networks of Armenia is a 100% subsidiary of Russian INTER RAO UES. ($ 1 - 480.98 drams). -0-
