YEREVAN. – According to preliminary calculations, Armenian consumers will pay AMD 156 per 1 cubic meter of gas, including VAT.

Representative of Public Services Regulatory Commission Garegin Baghramyan said the final price was calculated based on the application by ArmRusGazprom to review the gas price and given the government’s 30-percent subsidy.

Along with the application, Armenia also received a new treaty on import saying the country will purchase gas at $240 per 1,000 cubic meters starting from April 1, 2013, he said during the Thursday press conference.  

Asked whether the rate may be lowered at the expense of reducing the profitability of ArmRusGazprom, Baghramyan informed that the company’s net income is 8%, which is the minimum indicator for the provided investments.

Speaking about revising of gas price, Baghramyan said this is affected by many factors, including changes in the national currency exchange rate, capital investment and others. He stressed that electricity rates would be, anyway, revised. He also informed that the rates will go up by about 27%.

In his turn, the chairman of the Republican Union of Employers Gagik Makaryan noted that this increase will hit Armenian consumers in the pockets, and may lead to the bankruptcy of small businesses.