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"Electric Networks Of Armenia" Not Planning To Raise Prices

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  • "Electric Networks Of Armenia" Not Planning To Raise Prices

    "ELECTRIC NETWORKS OF ARMENIA" NOT PLANNING TO RAISE PRICES

    ARKA
    July 28

    Electric Networks of Armenia is not planning to apply to the Public
    Services Regulatory Commission for raising the electricity prices for
    end users in the country, the General Director of the Electric Networks
    of Armenian closed joint stock company Yevgeniy Gladunchik said.

    "We are not going to increase the prices even if the Russian natural
    gas becomes more expensive for Armenia," he told a press conference.

    In 2011 "Gasprom" holding is to start supplying gas to Armenia
    at European prices. The Armenian side reached an agreement for
    a mid-term contract to have a gradual rise in prices bearing in
    mind the high level of strategic partnership and the strengthening
    of Gasprom's positions in Armenia. In April 2006 the price for the
    Russian natural gas supplied to Armenia was raised from $56 to $110
    per 1,000 cubic meters.

    The current electricity is 25 Drams (about 8.3 U.S. cents) in daytime
    (from 7:00 to 23:00) and 15Drams (about 5 cents) at night in Armenia.

    According to Gladunchik, the price is high even now - raising it may
    make it difficult to collect bills against energy consumed. "We are
    not interested in increasing the tariffs," the General Director.

    Russian INTER RAO EES holds 100% of the shares of "Electric Networks
    of Armenia" CJSC.20Distribution and sale of electricity is the main
    activity of the company. The company provides services to approximately
    913,000 consumers.
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