Armenia’s PSRC begins revision of electricity prices

YEREVAN, December 1. /ARKA/. Armenia’s Public Services Regulatory Commission (PSRC) began a process of revising the cost prices of electricity for citizens, PSRC chairman Garegin Baghramyan told a press briefing today.

However, he declined to say whether the prices would be cut or raised, promising that it will become clear in 7-10 days when PSRC finishes calculating the balance of energy production.

The cost of one kWh of electricity was raised in February 1 this year by 4.7 drams. Currently, the daytime price of electricity (from 7am to 11 pm) for socially vulnerable families (about 11% of households ) is 29.99 drams and 19.99 drams for the rest of the day, while for other categories of citizens it is 44.98 drams and 34.98 drams respectively.

For other consumers the range of the daytime price is from 41. 98 drams to 50.48 drams and from 37.98 to 40.48 drams during nighttime hours.

Armenia’s national power distribution company- Electric Networks of Armenia - is owned and run by Tashir Group of Companies, owned by a Russia-based billionaire of  Armenian origin Samvel Karapetyan, who acquired the facility from the Russian energy holding Inter RAO UES in September 2015. ($1 - 394.87 drams).