Thursday, September 22 2016 19:18
Naira Badalian

Energy Ministry: Current methodology of calculating gas and electricity tariffs is irrelevant

Energy Ministry: Current methodology of calculating gas and  electricity tariffs is irrelevant

ArmInfo. The current  methodology of gas and electricity tariffs calculation is irrelevant,  newly appointed Minister of Energy and Natural Resources Ashot  Manukyan told journalists on September 22. 

According to him the running methodology was approved when the  country was facing serious problems and non-payments reached high  percents. Consequently, at that moment the methodology of calculating  tariffs was justified for that period, the Minister noted. The new  approach according to Manukyan should solve two main tasks-to ensure  safe and uninterrupted work of the system, solve certain social tasks  and boost entrepreneurship. At the same time the Minister was not  able to tell concrete dates when the new proposals will be presented. 

To recall, Armenian Prime Minister Karen Karapetyan said at the  Government's sitting on September 15 that the gas and electricity  tariff policy will be revised in Armenia. "I suggest that the Public  Services Regulatory Commission, Ministry of Energy and Natural  Resources, Ministry of Labor and Social Issues should jointly discuss  and submit proposals on revision of the gas and electricity tariff  policy," Karapetyan said, noting the matter concerns possible  reduction of the tariffs for vulnerable public strata.  However, this  will happen at the expense of other consumers. Tariff policy revision  will also cover agriculture and processing industry. These measures  will not be implemented with the state budget funds.  

According to the watchdog's decision adopted on June 24, both the day  and night prices were reduced by 2.58 drams to 46.20drams (from  48.78drams) and 36.20drams (from 38.78drams) respectively. The  decision came into force on August 1.  For the consumers using 35KV  electric power, the price will be reduced from 39,78 drams to 37.20  drams for daytime and from 35.78 drams to 33.20 drams for nighttime.  The consumers using 110KV electric power (mostly industrial  enterprises), the daytime price will be reduced from 37.27 dram to  34.70 drams and the nighttime one - from 33.28 drams to 30.70 drams.  On May 31, the Public Services Regulatory Commission of Armenia  (PSRC) made decision on changes in the gas tariffs. The new terms  will come into force on 1 July 2016. The gas tariff for the Armenian  consumers will decline by 9.3 AMD per 1 cu m. Tariffs for households  consuming up to 10 thsd cu m of gas per month was reduced from 156 to  146.7 AMD per 1 cu m.  The gas tariff for the subscribers consuming  over 10 thsd cu m of gas reduced from 276.98 to 257.56 USD in AMD  equivalent (at the AMD/USD exchange rate as of the 25th day of the  previous month. The tariff includes VAT). However, gas and  electricity tariffs remain the highest in the region.


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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000