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ARMENIA'S ENERGY SECTOR OWES OVER AMD 13 BILLION TO BANKS
YEREVAN, December 17./ARKA/. Armenia's energy system owes more than
AMD 13 billion to banks, Deputy Energy and Natural Resources Minister
Iosif Isayan said on Wednesday.
He told journalists that the energy sector has a lot of unsolved
problems accumulated for years. he said.
The company has plunged into debt, but this has not been taken into
account in setting prices, and the whole burden of this debt has been
borne by the company itself. Now, time has come to repay this debt
at the account of consumers.
Isayan said that the company owes about AMD 15 billion to
power-generated companies. Things are due to faults in tallying prices
for electricity and administration.
The deputy minister said this has created deficiency of financial
resources and has stricken hard at the company. He said the company
should fill its financial gap within three years by raising prices.
Isayan said that the latest price rise in August was prompted by this
very circumstance. He said deficiency in the company's earning for
that period amounted to AMD 27.6 billion.
In his words, an appropriate methodology is being worked out now to
put things right.
Before August 1, 2014, Armenia's residents paid 38 drams per one
kilowatt-hour when they consumed electric power in daytime and 28
drams in nighttime and now they have to pay 41.85 drams and 31.85
drams respectively. ($1 - AMD 490.34 ). ---0----
http://arka.am/en/news/business/armenia_s_energy_sector_owes_over_amd_13_billion_t o_banks/#sthash.ulBEnSNF.dpuf
From: A. Papazian
YEREVAN, December 17./ARKA/. Armenia's energy system owes more than
AMD 13 billion to banks, Deputy Energy and Natural Resources Minister
Iosif Isayan said on Wednesday.
He told journalists that the energy sector has a lot of unsolved
problems accumulated for years. he said.
The company has plunged into debt, but this has not been taken into
account in setting prices, and the whole burden of this debt has been
borne by the company itself. Now, time has come to repay this debt
at the account of consumers.
Isayan said that the company owes about AMD 15 billion to
power-generated companies. Things are due to faults in tallying prices
for electricity and administration.
The deputy minister said this has created deficiency of financial
resources and has stricken hard at the company. He said the company
should fill its financial gap within three years by raising prices.
Isayan said that the latest price rise in August was prompted by this
very circumstance. He said deficiency in the company's earning for
that period amounted to AMD 27.6 billion.
In his words, an appropriate methodology is being worked out now to
put things right.
Before August 1, 2014, Armenia's residents paid 38 drams per one
kilowatt-hour when they consumed electric power in daytime and 28
drams in nighttime and now they have to pay 41.85 drams and 31.85
drams respectively. ($1 - AMD 490.34 ). ---0----
http://arka.am/en/news/business/armenia_s_energy_sector_owes_over_amd_13_billion_t o_banks/#sthash.ulBEnSNF.dpuf
From: A. Papazian