Thursday, April 18 2019 18:00

ArmInfo. A 10-year program worth $ 700 million is being implemented in "Electric Networks of  Armenia" CJSC. Acting Minister of Energy Infrastructures and Natural  Resources Garegin Baghramyan announced this on April 18 from the  rostrum of the National Assembly of Armenia.According to him, as a  result of the project implementation, by 2026 a fully renovated  electric grid facilities will be formed in Armenia. At the same time,  the level of losses will be 6%, which corresponds to the best  European standards. 

As a result, continuedBaghramyan, the margin for networks, which  currently stands at 11-12 drams, will not be increased, but at the  same time, it will not be reduced, since investments require a  return.Recall that on December 28 last year, the Eurasian Development  Bank (EDB) and the Electric Networks of Armenia signed a loan  agreement on attracting $ 20 million to implement the program. Some  sources of project financing are already known, while others are  under discussion. In addition to the EDB, the EBRD and ADB also  participate in the program, each of which has already given the  go-ahead to provide loans of $ 80 million. 

The program will provide an opportunity to improve the distribution  of electricity in Armenia, reduce electricity losses and operating  costs, improve the conditions of maintenance and safety, strengthen  and expand the distribution network, connect new customers to the  network, improve maintenance and security, and introduce  international management standards and automated control system. The  implementation of the 10-year program will make it possible to  reconstruct and modernize electrical equipment, whose age is  estimated at 50 years or more. It is also planned to modernize  electrical substations, reconstruct distribution points, completely  replace air and cable lines, and introduce ASKO electricity metering  systems throughout the country. An important place in the investment  program will be occupied by the construction of the electric  substations "Circus", "Purak" and "Malibu", from which electricity is  supplied to the consumers of the center of the Armenian capital. It  is also provided from 2020 to completely abandon induction meters.   At the same time, 450 thousand consumers will be involved in the ASKO  system, with the help of which it will be possible to notify  consumers using smartphones.

 With the introduction of new technologies will be reduced and the  number of employees. The reduction will be made through optimization.  But the owners of the company carry out a clearly defined socially  oriented policy. Those employees who will be reduced or will be  transferred to other jobs created, or will receive a salary for at  least 1 year. It is possible that a significant part of the equipment  will be procured at Armenian enterprises, which will make it possible  to create new jobs, including for the company's employees, which will  be reduced. The Tashir group of companies, headed by a large Russian  businessman of Armenian origin Samvel Karapetyan and Inter RAO, on  September 30, 2015 signed an agreement on the sale and purchase of  electric power assets of the Russian energy holding in the Republic  of Armenia - Electric Network of Armenia CJSC and Razdanskaya TPP. 

Electric Networks of Armenia CJSC was established in May 2002 as a  result of the merger of four state regional electricity distribution  and sales companies: Yerevan Electric Networks, Northern Electric  Networks, Southern Electric Networks and Central Electric Networks.  The main activity of the company is the regulated distribution and  sale of electricity.The total length of networks is 36 thousand km.  The company serves about 985,000 consumers. Electric Networks of  Armenia CJSC has an exclusive license for transmission and  distribution of electricity on the territory of the Republic of  Armenia at guaranteed tariffs calculated on the basis of the  company's costs and an adjustable rate of return on invested capital.