Tashir group says 3-dram electricity price cut in Armenia is possible, but regulator disagrees
YEREVAN, October 31. /ARKA/. Narek Karapetyan, the vice president of the Tashir Group of Companies, claimed in a social media post that the Electric Network of Armenia (ENA), which is owned by the group, has the ability to lower electricity prices for Armenian households by 3 drams.
Karapetyan mentioned that ENA sold around 5 billion kWh of electricity in 2024, with 2.13 billion kWh allocated to households.
"Despite a significant increase in losses following the government's appointment of an interim manager (after Prime Minister Pashinyan announced intentions to nationalize the company), ENA still managed to generate an additional 6 billion drams in profits due to its operational inertia. We aim to reduce prices specifically for households by about 3 drams," Karapetyan posted on Facebook.
The Public Services Regulatory Commission (PSRC) countered Narek Karapetyan's assertion, labeling the proposed 3 dram reduction as inaccurate.
"No proposal to lower the electricity price by 3 drams has ever been presented to the PSRC. The proposal made in June 2025 only addressed a reduction in the additional benefit of 3.6 billion drams accrued over six months and compensation for investments made concurrently, which would have only impacted the electricity price for all consumers by 0.2 drams," the regulator's statement indicates.
"The additional gains or losses this year compared to previous years were solely due to the discrepancies between planned and actual electricity production metrics and consumption patterns, which the ENA cannot control," the document states.
It is also noted that in prior years, the ENA had periodically submitted requests to the PSRC for increases in electricity prices for consumers. For instance, in September 2024, the ENA suggested raising the net profit margin by 2%, a proposal that was rejected by the PSRC. Had the proposal been approved, the electricity tariff for all consumers would have risen by approximately 1.5 drams, and the tariff for households would have increased by about 3 drams.
Adjusting electricity tariffs for consumers cannot be accomplished solely with the additional 6 billion drams referenced by Narek Karapetyan; numerous other positive and negative factors are at play. To evaluate these factors, the Commission initiated its annual tariff revision process on September 15 of this year, as it does every year. The outcomes of this process will determine by year-end whether there will be any changes to consumer tariffs.
The regulator asserts that "if ENA had truly intended to lower electricity tariffs for consumers, it could have done so at any time by utilizing its own profits, without needing to approach the PSRC."
On October 31, Tashir Capital, the proprietor of ENA CJSC, submitted a second request to the Public Services Regulatory Commission to lower the electricity tariff in Armenia.
Lawyer Gohar Meloyan stated that calculations from ENA's economists suggest a strong likelihood of a tariff reduction of about 3 drams, which is quite justifiable. This represents a significant amount. 'However, the authorities are manipulating this issue,' she remarked.-0-
