PSRC approves electricity volumes to be purchased from Armenian NPP and IEC in 2024

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13.12.2023, 14:48

Armenia's Public Services Regulatory Commission (PSRC) has approved the amounts of electricity to be supplied by Armenian NPP and International Energy Corporation CJSC (IEC, Sevan-Razdan cascade of HPPs) for compulsory sale in the wholesale electricity market by direct contracts.

PSRC approves electricity volumes to be purchased from Armenian NPP and IEC in 2024

YEREVAN, December 13. /ARKA/. Armenia's Public Services Regulatory Commission (PSRC) has approved the amounts of electricity to be supplied by Armenian NPP and International Energy Corporation CJSC (IEC, Sevan-Razdan cascade of HPPs) for compulsory sale in the wholesale electricity market by direct contracts.

According to the regulator's decision, from February 2024 to January 2025 inclusive, almost 348.4 million kWh of electricity is to be purchased from the IEC and almost 2.35 billion kWh from the Armenian NPP. The decision will come into force from February 1, 2024.

The International Energy Corporation CJSC manages assets of Sevan-Hrazdan HPP cascade with total installed capacity of 561.4 MW (it consists of 7 HPPs and 17 canals irrigating Ararat valley). The company, registered in May 2003, was acquired by Hrazdan Energy Company (HrazTES), a member of Tashir Group of Companies, in 2020.

The Armenian NPP, the only one in the South Caucasus region, is located near the town of Metsamor - about 30 km west of Yerevan. The plant accounts for up to 40% of the total generation. Its service life has been extended until 2026, and work is underway to extend it for another 10 years.

According to official statistics, about 7.3 billion kWh of electricity was generated in Armenia in the first ten months of 2023. The largest amount of 51.8% was produced by thermal power plants (more than 3 billion kWh), the HPPs generated almost 1.46 billion kWh and the nuclear power plant produced 21.9% or more than 2.1 billion kWh). --0--

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