ArmInfo. Yerevan TPP will not be transferred to the ownership of CJSC Gazprom to repay the debt. This was announced on October 25 to the journalists. Minister of Energy and Natural Resources of Armenia Garegin Baghramyan, commenting on the ways to repay the huge debt of the TPP.
According to Baghramian, the debt of Yerevan Thermal Power Station of CJSC Gazprom Armenia in the amount of 15 billion drams was formed as a result of untargeted expenses, such as payments to the Yerevan Thermal Power Plant of wage arrears of employees of the Nairit plants and the Vanadzor chemical complex. "In general, due to the implementation of commitments not related to the activities of TPPs, these costs were aimed at the implementation of the activities of the TPP itself, we would not have faced similar problems today," the acting president said. Head of the Ministry of Energy. As Bagramyan pointed out, the State Control Service of the Prime Minister of Armenia will soon conduct inspections in the Yerevan Thermal Power Plant.
At present, as Baghramyan said, mechanisms for paying off debt are being actively discussed. However, the. the minister assured that the Yerevan TPP will not become the property of CJSC Gazprom on account of debt repayment.
Recall that on the basis of the agreement signed on May 12, 2016, the World Bank through the International Bank for Reconstruction and Development (IBRD) will provide Armenia with a loan of $ 30 million to improve efficiency in the country's electric power system. The main part of the loan will be repaid during 2030-2040. Tranches will be issued from 2016 to July 31, 2030. Credits will be provided to two state generation facilities - the Armenian NPP ($ 8.5 million) and the Yerevan TPP ($ 21.5 million). Both generating facilities will have to re-register loans previously raised from the country's commercial banks at high interest rates. In addition, Yerevan TPP will repay its debt to Gazprom Armenia companies for the gas already supplied. Earlier, former Deputy Minister of Energy Areg Galstyan stated in the country's parliament that the privatization of state facilities is not planned in the medium term, therefore, the burden of paying debts will rest on these two companies, in accordance with the subcontract agreement concluded with the RA Ministry of Finance. As previously stated by the head of the WB Yerevan Office Laura Bailey, the program is aimed at improving the management of these companies, as well as at strengthening relations with distribution networks, which will make it possible to keep sufficient volumes of electricity production with an affordable tariff. In turn, Arthur Kochnakian, a senior specialist of the organization, attributed the WB's elimination of non-earmarked expenses to state-owned companies, including the payment of arrears of wages to Nairit plant employees.
The reason for the accumulated debts, according to the government, is that "tariff calculations are based on unrealistic energy balances." "Due to the incomplete production of electricity from hydropower plants, CJSC Electric Networks of Armenia has a debt of 22.4 billion drams, of which 7.2 billion drams is a debt to the Armenian NPP, 12.2 billion drams is CJSC TES Yerevan, 3 billion drams - High Voltage Electric Networks CJSC, "says the government's protocol decision. In addition, due to the debts generated, the Yerevan TPP and the ANPP in recent years have been forced to attract expensive loans from commercial banks in order to pay the operating costs. As a result, their debt obligations, taking into account the loans taken, as of February 1, 2016, increased, respectively, by 6.1 and 8 billion drams. In addition, servicing loans a year costs about 1.4 billion drams to two companies. However, according to the government, this is "not included in the tariff", although "it is an additional burden for these companies."