ENA to increase electricity supply margin by 65 percent

The Electric Networks of Armenia is planning to increase the electricity supply margin by 65 percent, according to the bid submitted to the Public Services Regulatory Commission, Haykakan Zhamanak reports.

“Currently the company gets an income of 12.46 drams per one kWh of electricity, and it intends to increase that sum to 20.66 drams. This is the margin which has absolutely nothing to do with the electricity production prices. Regardless of the price of electricity purchase, ENA will sell it to consumers for an additional price of 20.66 drams. The company intends to receive an annual profit of about 15 billion drams. At the same time, the company plans to increase the losses - from the planned 11.2 percent to 12.4 percent,” the newspaper says.

According to the newspaper, at a consultation at the Ministry of Energy and Natural Resources in November 2014 Minister Yervand Zakharyan said that a one percent reduction of losses ensures an additional income of 5.1 billion drams.