PSRC fines Electric Networks of Armenia for AMD 20 million

ArmInfo. On June 30, the Public Services Regulatory Commission (PSRC) of Armenia decided to fine the Electric Networks of Armenia CJSC  to the tune of 20 mln drams (about $51,000 at the current exchange rate).

The company was fined for the failure to connect the consumption systems of new consumers to the power grid in due time.  According to the draft decision, based on the analysis of the company's activities in Q4 2022, it was found that in a number of cases, the deadlines set by the electricity market distribution network rules for connecting the consumption systems to the power grid were NOTnot observed. In addition, applicants and consumers were not properly informed of the reasons for the delays, they were not paid the due fines, which led to a violation of the legal rights of consumers.

"Electric Networks of Armenia" CJSC was founded in May of 2002 as merger of four state regional companies ("Yerevan Electric Networks", "North Electric Networks", "South Electric Networks" and "Central Electric Networks") distributing and selling electric energy. The company is mainly engaged in regulated distribution and sales of electric energy. Overall spread of its grid is 36 thousand km. Power distribution is implemented at tariffs confirmed by the Public Services Regulatory Commission of RA. The company provides service to more than 1mln customers.