PSRC starts review of electricity prices in Armenia

Pursuant to Article 22 parts 5 and 6 of the Law on Energy, the Public Services Regulatory Commission of Armenia (PSRC) has started on its initiative a review of the tariffs of energy production and services and the prices of electricity sold to ultimate users, the commission said in a statement.

“In the past two months the PSRC has examined the forecasts of electric companies concerning the licensed activities of expenditures and obligations for 2014-2015. The commission decided that in 2014-2015 considerable changes in the factors affecting the economic activities of electric companies can be expected,” the statement reads.

According to preliminary estimates of PSRC, additional 20 billion drams are needed to ensure financial stability of the electricity companies and a safe and continuous power supply.

To solve financial problems of companies, it is planned to raise the tariffs of electricity supplied to all the consumer groups by 3.8-4.3 drams/kWh (inclusive of VAT).

The commission’s hotline is 010 52 85 90, email - [email protected].