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Armenia stops providing Georgia with electricity

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  • Armenia stops providing Georgia with electricity

    ARMENIA STOPS PROVIDING GEORGIA WITH ELECTRICITY

    AZG Armenian Daily #081, 05/05/2005

    Economy

    International Energy Corporation CJSC stopped providing Georgia with
    electricity from Armenia. Mels Hakobian, deputy head of the company
    told this to Novosti agency. He explained this with stabilization
    of AMD against the US dollar, which makes the import of electricity
    unprofitable.

    "We purchase the energy in AMD and sell it in dollars, but now we are
    suffering great loses like all the importers of Armenia," he said. The
    company negotiated with the Georgian Telacy Company. The Georgian
    side said that are not able to import energy on higher tariffs.
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