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Electric power cost will go down, price will not

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  • Electric power cost will go down, price will not

    ELECTRIC POWER COST WILL GO DOWN, PRICE WILL NOT

    Lragir, Armenia
    Dec 22 2006

    The project of modernization of the Thermal Plant of Yerevan costing
    160 million dollars will be complete by the end of the year 2008, and
    150-160 grams instead of the present 400 grams of gas will be used to
    generate 1 kWh of electric power, said the minister of energy Armen
    Movsisyan on December 22. After the reconstruction and modernization
    of the fifth generating unit of the Thermal Plant of Hrazdan 250
    grams instead of the present 330 grams will be used to generate 1 kWh
    of energy. However, the electricity bill will not go down, the
    minister broke the news. Part of these projects are implemented on
    loans, and these loans need to be repaid.

    Armen Movsisyan had also good news. Renewable energy has good
    prospects in Armenia. We have 50 mini water power plants, another 50
    are under construction, which will generate about 500 million kWh of
    electricity, 10 percent of the demand of Armenia.

    Armenia, which already has wind mills, will develop this sphere as
    well. ~SAn Italian company is likely to set up a 902 megawatt wind
    farm in Armenia. It implies an investment of 130 million dollars, it
    implies that this sphere is attractive for business,~T Armen Movsisyan
    stated.

    This is not the end. Armenia, which imports 70 percent of energy
    resources, is also trying to develop geothermal energy generation.

    There is an arrangement with a company owned by Edwardo Ernekyan, the
    owner of the company which manages Zvartnots Airport, to start the
    construction of the first plant within the upcoming two years.
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