Russian Inter RAO UES of Armenia, the parent company of Electric Networks of Armenia, has published a report saying the company's profits from the Armenian segment has totaled 5.7 billion rubles for the current year versus 3.4 billion rubles of the previous year. According to the report, the profits of Inter RAO UES's Armenian subsidiary grew 65.3%.
The company explains the growth with the sharp depreciation of the Armenian dram as against the Russian ruble, the Chorrord Ishkhanutyun newspaper writes.
On May 8, Electric Networks of Armenia (ENA) CJSC submitted an official application to the Public Services Regulatory Commission (PSRC) of Armenia to raise the electric power tariffs. ENA (subsidiary of Inter RAO) 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.