PSRC: In Armenia electricity tariffs will not increase, at least  until February 1, 2021 

ArmInfo. In Armenia electricity  tariffs will not increase, at least until February 1, 2021. Chairman  of the Commission for Regulation of Public Services (PSRC) Garegin  Baghramyan announced this on June 8 in a conversation with reporters.

According to him, the expected slight increase in the gas tariff is  completely controllable, and should not affect the activities of  Electric Networks of Armenia CJSC.

To recall, the tariffs for ordinary subscribers (consuming voltage of  220 kV) are 44.98 drams during the day and 34.98 at night. To note,  however, that the strategic priority of ENA is the implementation of  a full- scale investment program aimed at deep modernization and  re-equipment of the entire property complex of the company. The total  investment program for 10 years is about $ 1 billion, which PSRC  cannot ignore.  Funds for the implementation of the investment  program are also attracted from institutional investors, including  the European Bank for Reconstruction and Development (EBRD) (80  million euros), the Asian Development Bank (ADB) ($ 80 million), the  Eurasian Development Bank (EDB) - ($ 20 million) and other sources.

To recall, the Tashir Group of Companies, headed by a prominent   Russian businessman of Armenian origin Samvel Karapetyan and Inter   RAO, signed an agreement on the acquisition of electric power assets   of a Russian energy holding in the Republic of Armenia - Electric   Networks of Armenia CJSC and Hrazdan TPP on September 30, 2015.

Electric Networks of Armenia CJSC was established in May 2002 as a   result of the merger of four state- owned regional distribution   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 the 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 in the Republic of Armenia at guaranteed tariffs,   calculated based on the costs of the company and the regulated rate   of return on invested capital.