Wednesday, November 22 2017 14:54
Alexandr Avanesov

Margin for Electric Networks of Armenia will remain the same until 2028

Margin for Electric Networks of Armenia will remain the same until  2028

ArmInfo. The margin set by  the Commission on Regulation of Public Services for "Electric  Networks of Armenia" will remain unchanged until 2028. This was  announced on November 22 at a meeting with journalists by Vice  President of the Tashir Group of Companies, Chairman of the Board of  Directors of JSC Electric Networks of Armenia Karen Darbinyan.

According to him, at present, the margin is 49 billion AMD, which  equals 11.7 AMD in each kilowatt of electricity. In the next 10  years, the company will pay special attention to reducing losses.  Karen Darbinyan reminded that Tashir accepted "Electric Networks of  Armenia" from October 15, 2015. Then the losses were 13.3%, however,  during the next three months this figure was reduced to 11.3%. In  2016, the company lost 9.9%, and by mid-November 2017 - 8.7%. "In two  years, extensive work has been carried out both with the streamlining  of the administration system and with the involvement of serious  investments," Karen Darbinyan said.

He added that until 2028 the level of losses in the company would be  brought to 6.4%. Until 2021, this indicator will be reduced to 8%, to  2025 - up to 7%, and to 2028 - to 6.4%. With reduction of losses, the  chairman of the Board of Directors of "ENA" continued, the electric  power system will receive additional funds, as reducing losses by 1%  leads to savings of $ 4.5- $ 5 million. Based on previous losses, a  significant proportion was theft. The use of administrative resources  made it possible to significantly reduce these cases. But most  importantly, the problem found its solution with the introduction of  incentive mechanisms, according to which the premiums of inspectors  or site managers directly depend on reducing losses.

Karen Darbinyan stressed that even in conditions of liberalization of  the electricity market, the company will purchase electricity in  accordance with the tariffs set by the PSRC. At the same time, it  does not matter whether ENA purchases electricity from TPPs, nuclear  power plants or HPPs. "There is a fixed margin of AMD 49 bln, and at  the beginning of the year the structure of electricity production is  being compiled, which ENA is obliged to purchase." These 2 bln AMD  will be used to improve the entire electric power system of the  country, "Karen Darbinian said.

He recalled that currently 7,300 people work in the company. In the  process of implementing the investment program, this amount will be  reduced by 1,000 authorized units, while retaining a number of the  company's obligations to employees, in particular, retaining annual  wages. This will allow the employee to adapt to the new conditions.

The Tashir Group of Companies is a multidisciplinary group of  companies of the federal scale, founded in 1999 and uniting more than  200 companies in various sectors of the Russian economy, including  construction, manufacturing, financial and energy industries,  development, retail and entertainment. The total number of employees  exceeds 45,000 people. The geography of activity covers 25 cities of  Russia and the near abroad. The founder and president of the company  is Samvel Karapetyan. The head office is located in Moscow. The core  business of the group of companies is the development and management  of commercial real estate, with priority being commercial real  estate. - the leader of the Russian market of development,  the creator of modern, high-tech facilities in the field of  commercial and residential real estate, the total area of which is  about 2.5 million kw.m.

JSC Electric Networks of Armenia carries out activities on  transmission and distribution of electricity in the territory of the  Republic of Armenia, and also has a license for the export and import  of electricity to the Republic of Georgia. According to the RA law  "On Energy", the Company is the only person in the country with which  all other legal entities and individuals have the right to conduct  transactions for buying or selling electricity. The company serves  about 1 million consumers, is one of the largest taxpayers and the  largest employer of the country.

POST A COMMENT
Input digits     


News
Every year, Lori region loses $40 million due to untapped tourism  potentialEvery year, Lori region loses $40 million due to untapped tourism  potential
We are going round in circles: Aram Kocharyan on  current IT  situation in ArmeniaWe are going round in circles: Aram Kocharyan on  current IT  situation in Armenia
Net direct foreign investments in Armenia`s economy up Net direct foreign investments in Armenia`s economy up 
RA president signs laws nationalizing ENA CJSCRA president signs laws nationalizing ENA CJSC
Responsible innovations instead of offshores - CB Responsible innovations instead of offshores - CB 
Armenia, Uruguay to increase bilateral trade turnover Armenia, Uruguay to increase bilateral trade turnover 
Armenian vice-premier takes part in EEC Council`s meeting Armenian vice-premier takes part in EEC Council`s meeting 
Yerevan to host Black Sea Trade and Development Bank`s Annual Meeting  Yerevan to host Black Sea Trade and Development Bank`s Annual Meeting  
Solid Municipal Waste Management project launched in HrazdanSolid Municipal Waste Management project launched in Hrazdan
Armenian IT sector`s output developed as compared with other regional states - expert Armenian IT sector`s output developed as compared with other regional states - expert 
Lawyer on `legal terror` surrounding ENA Lawyer on `legal terror` surrounding ENA 
AraratBank participated in the WEPs regional experience-sharing workshopAraratBank participated in the WEPs regional experience-sharing workshop
1,507 trucks with apricots leave for Russia since beginning of summer 1,507 trucks with apricots leave for Russia since beginning of summer 
TechWeek transforms Vanadzor into an innovation hubTechWeek transforms Vanadzor into an innovation hub
In Q1 2025, unemployment rate in Armenia decreased to 13.9%In Q1 2025, unemployment rate in Armenia decreased to 13.9%
Moody`s upgrades Converse Bank`s ratingsMoody`s upgrades Converse Bank`s ratings
Armenia`s industrial sector is experiencing a significant  declineArmenia`s industrial sector is experiencing a significant  decline
Power generation in Armenia increased by 3.6% in a yearPower generation in Armenia increased by 3.6% in a year
Armenia`s State Revenue Committee proposes postponing payment of  road, environmental taxes, entry duties Armenia`s State Revenue Committee proposes postponing payment of  road, environmental taxes, entry duties 
46 trucks with Armenian brandy enter Russia 46 trucks with Armenian brandy enter Russia 
Expert: Armenia has every chance to become a key regional  hub for  innovative solutionsExpert: Armenia has every chance to become a key regional  hub for  innovative solutions
IDBank issues the 3rd, 4th and 5th tranches of bonds of 2025IDBank issues the 3rd, 4th and 5th tranches of bonds of 2025
ARMSWISSBANK Launches Mastercard World – A New Premium CardARMSWISSBANK Launches Mastercard World – A New Premium Card
Ministry of Economy: Compared to 2018, job numbers in Armenia  increased by 33.9%Ministry of Economy: Compared to 2018, job numbers in Armenia  increased by 33.9%
Illegal mining in Armenia`s Syunik causes AMD 63mln damage to public Illegal mining in Armenia`s Syunik causes AMD 63mln damage to public 
Rospotrebnadzor requested additional information from competent  authorities in Armenia regarding the reason for the ban of Eskimo ice  cream Rospotrebnadzor requested additional information from competent  authorities in Armenia regarding the reason for the ban of Eskimo ice  cream 
Pashinyan discusses steps for establishing a major AI data center in  ArmeniaPashinyan discusses steps for establishing a major AI data center in  Armenia
In June,  Armenia`s annual inflation rate increased to 3.9%  driven  by higher prices for food  and servicesIn June,  Armenia`s annual inflation rate increased to 3.9%  driven  by higher prices for food  and services
Armenian products to enter Cyprus and US markets: CIBRS announces National Warehouse program strategyArmenian products to enter Cyprus and US markets: CIBRS announces National Warehouse program strategy
European Investment Bank remains Armenia`s key partner in  infrastructure projects - MinisterEuropean Investment Bank remains Armenia`s key partner in  infrastructure projects - Minister
Armenian Parliament gives  Armenian Parliament gives  "green light" to nationalization of ENA
Armenia`s dividends from ZCMC $113mln since 2022Armenia`s dividends from ZCMC $113mln since 2022
Ardshinbank summed up the raffle organized for Mastercard Business cardholdersArdshinbank summed up the raffle organized for Mastercard Business cardholders
Armenia extends ban on export of scrap metal until Feb. 1 2026 Armenia extends ban on export of scrap metal until Feb. 1 2026 
62 trucks with Armenian brandy cross Russian border 62 trucks with Armenian brandy cross Russian border 
Armenia to fix tariff quota on individual types of goods imported  from Iran Armenia to fix tariff quota on individual types of goods imported  from Iran 
Narek Karapetyan: Almost all infrastructure companies, except for  ENA, have increased their tariffs for servicesNarek Karapetyan: Almost all infrastructure companies, except for  ENA, have increased their tariffs for services
EIB: Education is one of key areas of partnership between EU-Armenia EIB: Education is one of key areas of partnership between EU-Armenia 
Armenian Deputy Foreign Minister participates in  4th International  Conference on Financing for Development in SevilleArmenian Deputy Foreign Minister participates in  4th International  Conference on Financing for Development in Seville
Armenian Prime Minister, President of  Trafigura Group discuss  potential  cooperation  in mining sector  Armenian Prime Minister, President of  Trafigura Group discuss  potential  cooperation  in mining sector  
ADB to provide Armenia with EUR236 million for construction of  Sisian-Kajaran roadADB to provide Armenia with EUR236 million for construction of  Sisian-Kajaran road
Vassilis Maragos: EU willing to strengthen technological cooperation with Armenia through concrete stepsVassilis Maragos: EU willing to strengthen technological cooperation with Armenia through concrete steps
Ardshinbank at the Forefront of Digital Security: Sponsor and Participant of BugBounty 2025 EventArdshinbank at the Forefront of Digital Security: Sponsor and Participant of BugBounty 2025 Event
Armenia`s regulator  approved the sale of 100% of GNC-ALFA s shares  to Viva Armenia CJSCArmenia`s regulator  approved the sale of 100% of GNC-ALFA s shares  to Viva Armenia CJSC
 International Chamber of Commerce ready to assist Armenia in hosting COP-17 International Chamber of Commerce ready to assist Armenia in hosting COP-17
Armenia to extend ban on ferrous metal exportsArmenia to extend ban on ferrous metal exports
IDBank Opens a New Branch at Homplex MallIDBank Opens a New Branch at Homplex Mall
MONEYVAL experts to visit Armenia in September to assess work on money laundering control MONEYVAL experts to visit Armenia in September to assess work on money laundering control 
Goods traceability to be improved in Armenia Goods traceability to be improved in Armenia 
Vaharshapan and Khoi communities to be merged Vaharshapan and Khoi communities to be merged 
Armenian NA OKs ENA nationalization Armenian NA OKs ENA nationalization 
Viva celebrates 20th anniversary: Armenia`s high-tech industry  minister on reforms in Armenia`s telecommunication industry Viva celebrates 20th anniversary: Armenia`s high-tech industry  minister on reforms in Armenia`s telecommunication industry 
Economic diversification meets Armenia`s interests - Kaja Kallas Economic diversification meets Armenia`s interests - Kaja Kallas 
5.1% increase in number of jobs in Armenia 5.1% increase in number of jobs in Armenia 
AraratBank: Special Rate for SWIFT Transfers up to EUR 20,000AraratBank: Special Rate for SWIFT Transfers up to EUR 20,000
Team Telecom Armenia, Team Systems under one roof: new Team Place  smart solutions center  openedTeam Telecom Armenia, Team Systems under one roof: new Team Place  smart solutions center  opened
Armenian Parliament discussing  nationalization of Electric Networks  of Armenia CJSCArmenian Parliament discussing  nationalization of Electric Networks  of Armenia CJSC
Armenia values development of  cooperation with Denmark in  high  technology and renewable energyArmenia values development of  cooperation with Denmark in  high  technology and renewable energy
ArmSwissBank: First in Armenia to Publish a Climate Transition PlanArmSwissBank: First in Armenia to Publish a Climate Transition Plan
Ucom Launches 5G Network in Abovyan and EjmiatsinUcom Launches 5G Network in Abovyan and Ejmiatsin
Read more
Exchange rates
09.07.2025
RUB4.910.01
USD383.82-0.37
EUR449.11-1.47
GBP521.34-0.31
CAD280.24-1.11
JPY26.18-0.06
CNY53.46-0.08
CHF482.060.44