ArmInfo. Energy Week Armenia started in the country will discuss energy development prospects for the coming years.
Opening the event, RA President Vahagn Khachaturyan pointed out the importance of diversifying the supply of energy resources to the country. He noted that the country's dependence on one source of supply always carries risks. The same applies to any other area in which there cannot be development if there are companies that occupy a monopoly position in the market. There is still work to be done in this direction to reform the country's energy sector. Some work in this direction has already been carried out, especially regarding legislative reforms. The United States Agency for International Development (USAID) is providing assistance in implementing the reform program.
Khachaturyan emphasized that any presented program is a tool to overcome existing challenges. In particular, liberalization of the electricity market would have become impossible without appropriate legislative regulation. As a result of the implementation of this project, it will be possible to create an efficient energy system, attract serious investments, eliminate the emergence of monopolists in the market and overcome corruption. "Today we can say that the new system, launched on February 1, 2022, was the result of bold steps and it is already bearing fruit," said the President of the Republic of Armenia, adding that the monopolist operating in the market is trying to create barriers to the liberalization of the electricity market. He called on the regulator, represented by the Public Services Regulatory Commission, to treat the monopolist with the utmost severity.
Khachaturyan noted that serious changes are taking place in the structure of electricity production, caused by more active development of renewable energy, the share of which in the overall balance should be 60% by 2030.
Last February, the liberalization of part of the energy market of Armenia began. Thus, consumers can choose their own supplier and purchase electricity at the price specified in the contract. An electronic trading platform has been launched since February 1, which allows for a certain liberalization of the market. At the same time, the guarantee of mandatory purchase of electricity, previously provided by the state to small hydroelectric power plants for a period of 15 years, will not work in the new conditions. Licenses for the construction and operation of power plants will be provided without quotas and corresponding state guarantees, but according to a simpler scheme.
By connecting to the electronic platform, these business entities will be able to wholesale the electricity they produce.
