Ordinary customers should not take the consequences of failed management and thefts at "Electric Networks of Armenia" CJSC; however, Public Services Regulatory Commission of the Republic of Armenia (PSRC) is the body to take the final decision, David Harutyunyan, the Minister-Chief of the Government Staff, told the media on May 25 at National Assembly.
According to him, every enterprise suffers commercial losses. The administration of the company is in charge for the losses, not the government. "They might have various expenses - expensive cars, resorts. This, however, does not mean that energy rate is also to cover these expenses. PSRC quotes the tariff", he said. The minister preferred not to answer the question if rates would be increased.
To recall, on May 8, Electric Networks of Armenia (ENA) CJSC - 100% subsidiary of Inter RAO - submitted an official application to the Public Services Regulatory Commission (PSRC) of Armenia to raise the electric power tariffs. ENA suggests increasing the daytime tariff to 58.93 AMD versus the current 41.85 AMD, and the nighttime tariff - to 48.93 AMD versus the current 31.85 AMD. So, the daytime and nighttime tariffs will rise by 40% and 53.6%, respectively. At the moment, ENA's debt is about USD 250 million.