Big businesses will not be subsidized for energy price hike (video)
Armenia's Minister of Energy and Natural Resources Yervand Zakharyan today said that large businesses will not be subsidized for the energy price hike. Subsidies for the price hike will be provides before the end of consultations invited by the Public Services Regulatory Commission (PSRC). On June 17 the PSRC took a decision to raise electricity tariffs by 6.93 AMD starting from August 1. As a result, the daytime electricity price for households will rise from 42 drams to almost 49 drams per kilowatt/hour. The households will pay almost 39 drams per 1 kWh during night hours. The decision unanimously made by the five PSRC members did not satisfy Armenia’s Russian-owned power distribution network - Electricity Networks of Armenia (ENA) which was seeking a 40 percent increase in electricity prices, citing the company's debts and the need to end its massive losses. This decision has sparked public protests in the country. The decision even angered the political and public organizations and the opposition forces of Armenia that blame ENA for mismanagement. The Company, in turn, did not guarantee uninterrupted power supply to the country, unless the power rate was increased by AMD 17. On June 27, Serzh Sargsyan said that the Armenian Government would assume the burden of the raised tariffs until the completion of an audit at the ENA.
