Revenues of Russian Inter RAO in Armenia hike by 65.3% to 5.7 billion rubles in quarter 1 – financial report
25.06.2015,
11:28
Revenues of the Russian Inter RAO Group in Armenia rose by 2.3 billion rubles (65.3%) to 5.7 billion rubles in the first quarter of this year, says a financial report for Q 1, 2015, on the company’s website.
YEREVAN, June 25. /ARKA/. Revenues of the Russian Inter RAO Group in Armenia rose by 2.3 billion rubles (65.3%) to 5.7 billion rubles in the first quarter of this year, says a financial report for Q 1, 2015, on the company’s website.
This increase of 2.3 billion rubles comes from the raising of electricity tariffs in Armenia, as per the decision of the regulatory body in August 2014, as well as from the increased Armenian dram versus Russian ruble rate, says the report.
Inter RAO Group is a diversified energy holding engaged in various segments of electric energy market in Russia and abroad. Inter RAO aims at creating a global energy company, a key actor in the global market and an efficiency leader in the Russian energy sector. Installed capacity of electric power plants owned and managed by Inter RAO Group is 35 GW.
‘Electric Networks of Armenia’ (ENA) are fully held by Inter RAO EES and are the distributor of energy to Armenian consumers, including households.
According to the decision of June 17 of Armenia’s Public Services Regulatory Commission the electricity price for consumers will go up by about 1.5 cents or 16.7% to about 10 cents per kilowatt-hour, as compared to 40.8% increase asked for in the company’s bid warning that otherwise ENA will not be able to ensure the reliability of supply and investments levels.
The regulatory bid has considered only objective factors that influenced the pricing and the debt accumulated by the company. According to some estimates, the company’s debt is 250 million dollars today.
Since June 19 ‘No To Plunder’ campaign participants have been holding demonstrations and sit-in in Yerevan against the rising electricity prices. Early morning on June 23, the police used water cannons to disperse peaceful demonstrators in Baghramyan Avenue that left 25 people injured. Baghramyan Avenue remains blocked.
Demonstrators demand to cancel Public Services Regulatory Commission’s decision to increase electricity tariffs by about 16.7% effective from August 1. –0--
This increase of 2.3 billion rubles comes from the raising of electricity tariffs in Armenia, as per the decision of the regulatory body in August 2014, as well as from the increased Armenian dram versus Russian ruble rate, says the report.
Inter RAO Group is a diversified energy holding engaged in various segments of electric energy market in Russia and abroad. Inter RAO aims at creating a global energy company, a key actor in the global market and an efficiency leader in the Russian energy sector. Installed capacity of electric power plants owned and managed by Inter RAO Group is 35 GW.
‘Electric Networks of Armenia’ (ENA) are fully held by Inter RAO EES and are the distributor of energy to Armenian consumers, including households.
According to the decision of June 17 of Armenia’s Public Services Regulatory Commission the electricity price for consumers will go up by about 1.5 cents or 16.7% to about 10 cents per kilowatt-hour, as compared to 40.8% increase asked for in the company’s bid warning that otherwise ENA will not be able to ensure the reliability of supply and investments levels.
The regulatory bid has considered only objective factors that influenced the pricing and the debt accumulated by the company. According to some estimates, the company’s debt is 250 million dollars today.
Since June 19 ‘No To Plunder’ campaign participants have been holding demonstrations and sit-in in Yerevan against the rising electricity prices. Early morning on June 23, the police used water cannons to disperse peaceful demonstrators in Baghramyan Avenue that left 25 people injured. Baghramyan Avenue remains blocked.
Demonstrators demand to cancel Public Services Regulatory Commission’s decision to increase electricity tariffs by about 16.7% effective from August 1. –0--
