Electric Networks of Armenia denies information about sale deal with Russia’s Tashir Group
19.03.2015,
16:11
Electric Networks of Armenia CJSC denied today an allegation of the company sale deal with Russia’s Tashir Group, Natalya Sarajyan, head of the company’s unit in charge of public relations, told ARKA News Agency.
YEREVAN, March 19. /ARKA/. Electric Networks of Armenia CJSC denied today an allegation of the company sale deal with Russia’s Tashir Group, Natalya Sarajyan, head of the company’s unit in charge of public relations, told ARKA News Agency.
On Thursday, Haykakan Zhamanak (Armenian Time) Newspaper, referring to its reliable sources, reported that Tashir Group, owned by Samvel Karapetyan, a well-known entrepreneur of Armenian descent, has acquired the Electric Networks of Armenia.
According to the newspaper, on the instruction of the Russian side, no deals are being made these days at the Electric Networks that belongs now to Russia's Inter RAO UES, and receipt and transfer process is under way now.
«Information about sale of the company is not true – at least we have no such information,» she said.
The Electric Networks of Armenia, belonging to Russia's INTER RAO UES, distributes electric power in Armenia.
In recent years, the company faced financial problems. As the Armenian energy ministry says, the company owes $220 million to banks.
Explaining the debt accumulation, the company says the electric network's actual losses exceed the projected norm by 2 percent, which amounts to 5 billion drams a year.
Besides, hydro power plants don't operate to the full extent of their capacity, and the gap is filled with the more expensive electricity generated by thermal power plants causing additional expenses and striking hard at the entire system.
According to the ministry, consumer prices for electric power don't reflect the company's actual spending.
To remedy the situation the ministry looked through prices, worked out a method to tally the system usage balance and a way for reducing losses by 2 percent in the recent two years. ($1 - AMD 479.46). ---0-----
