YEREVAN. – They say the authorities in Armenia will probably offset the increase in electricity tariffs by the means which Tashir Group provides to Armenia every year as charity, by donating US$20 million, reported Irates De Facto newspaper.  

“Once the audit is completed [at the Electric Networks of Armenia (ENA) Company], all the ‘flaws’ are raised, [and] the system is ‘cleaned’ as much as possible, a new privatization will be made [at the ENA], and the new proprietor will stop the price hike owing to competent management, institutional management, and proper personnel policy,” wrote Irates De Facto.

Despite numerous protests, the Public Services Regulatory Commission of Armenia recently increased the price of electricity in Armenia by 6.93 drams—instead of 17 drams, proposed by the ENA—, per cubic meter, and this decision will take effect on August 1. But the decision is expected to be followed by an increase in the prices of numerous products and services in the country.

President Sargsyan, however, stated that the government will cover this price hike until an audit is conducted at the ENA, which supplies electricity to the country’s residents. Sargsyan also said he does not rule out returning the company to the Armenian government and transferring it to competitive management, if the audit shows that the aforesaid increase in electricity prices is unjustified.