YEREVAN. – Various sources of cheap electricity need to be offered to the new proprietor of the Electric Networks of Armenia (ENA) CJSC. 

Head of the Union of Domestic Goods Producers of Armenia, economist Vazgen Safaryan, stated the aforesaid at a press conference on Tuesday.

He added that steps need to be taken to reduce the electricity tariff in the country. 

“The state shall carry out an oversight function in the strategically important domains,” noted Safaryan. “The electricity tariff was quite favorable before the increase. But now, naturally, the cost price of goods will increase by 1 to 2 percent, and some will attempt to ensure competitiveness at the expense of other spending cuts, including the salaries.”

In the economist’s words, the share of electricity being received from Armenia’s hydroelectric plants and the nuclear plant needs to be increased.

“The state shall be able to show some flexibility in ensuring [respective] balance,” added Vazgen Safaryan.

On June 17, and despite numerous complaints, the Public Services Regulatory Commission of Armenia approved the electricity price hike, and it came into force on August 1. PM Hovik Abrahamyan, however, announced that the government will subsidize this increased amount, but solely for the residents and the small and medium-sized enterprises of the country.