Electric Networks of Armenia conceals its expenses fromPublic Services Regulatory Commission
On June 17, the Public Services Regulatory Commission (PSRC) is due to consider the bid submitted by the Electric Networks of Armenia (ENA) which seeks to raise the current electricity tariffs by nearly 40 percent – from current 42 to 59 drams. When submitting the bid the ENA said it cannot cover its costs with the current tariffs. Thus, the PSRC is to determine whether the Company’s expenses are reasonable or not. Minister of Energy and Natural Resources, Yervand Zakharyan, supported the company’s bid and said that its huge debt [amounting 37.6 billion drams] resulted from the unplanned halt of the nuclear power plant, dry year in 2014, which affected the work of hydropower plants and breaches of balance modes. However, the ENA conceals the salaries of its top managers both from the public and from the PSRC, says the Union of Informed Citizens NGO. This means that on June 17 the PSRC will discuss the Company’s expenses, including salaries, without knowing how much money the ENA officials receive as salaries. The PSRC will either find the costs reasonable or unreasonable without a thorough knowledge of the real situation. Ironically, the ENA officials can receive, for example, a monthly salary in the amount of 100 million drams from the money paid by our citizens but the employees’ salaries will be kept secret from our citizens and the PSRC.
