"Deloitte" Company is to handle the audit on the energy system of Armenia, Vache Gabrielyan, the Deputy PM and Minister of International Economic Integration and Reforms, said during the Aug 13 governmental meeting.
On July 27 PSRC sent invitiations to 5 leading international consulting companies. "Deloitte" and "Mckinsey" responded on Aug 6.
In turn, PM Hovik Abrahamyan assured that Armenian society would get responses to most questions at the end of the audit.
To recall, the decision on the rise in electricity prices in Armenia came into effect on 1 August. Armenian Prime Minister Hovik Abrahamyan says that the 6.93 AMD growth in tariffs will be subsidized from the funds received from the sale of Vorotan Hydro Cascade. The civic movement has been holding the sit-in in Republic Square for almost a week.
To note, on June 17 the Public Services Regulatory Commission took a decision to the electric power tariffs by 6.93 AMD starting from August 1. As a result, the daytime tariff for the ultimate consumers will rise from the current 41.85 AMD per 1kWh to 48.78 AMD, and the nighttime tariff will grow from 31.85 AMD to 38.78 AMD per 1 kWh (including VAT). ENA CJSC had insisted on 17 AMD rise in the tariffs because of the company's debts. This decision has sparked public protests in the country. The decision even angered the political and public organizations and the opposition forces of Armenia that blame ENA for mismanagement. The Company, in turn, does not guarantee uninterrupted power supply to the country, unless the power rate is increased by 17 AMD. On June 27, Armenian President Serzh Sargsyan said that the Armenian Government would assume the burden of the raised tariffs until the ENA audit was over. He also said that the ENA might be nationalized. For his part, David Harutyunyan, Minister-Head of the Armenian Government Administration, said that the audit at the ENA might last for 3-6 months. ENA's total debt is about 150 bln AMD.