The Russian owner of Armenia’s power distribution network has blamed Armenian state regulators for its massive financial losses, saying that electricity prices in the country should have risen faster over the past decade.
“The long-running losses incurred by the Electric Networks of Armenia (ENA) closed joint-stock company result from the existing system of [energy] tariff regulation and rules for the functioning of the energy market in the Republic of Armenia,” Boris Kovalchuk, the chairman of the Inter RAO group, told the Tass news agency late on Tuesday.
Kovalchuk claimed that the ENA has paid Armenian power plants more for their electricity than it was supposed to without receiving a corresponding “compensation from consumers.” He said the “insufficient increase in tariffs in the past 11 years” was compounded by last year’s longer-than-anticipated stoppage of the Metsamor nuclear plant and decreased output by Armenian hydroelectric facilities.
Armenian News
No comments:
Post a Comment