Economist: Armenia could have lower electricity prices if working with western c

YEREVAN. – Armenia could have lower electricity rate if working with western companies, economist Ashot Yeghiazaryan told reporters on Thursday.

The report on electricity market prepared by Public Services Regulatory Commission says it is necessary to increase electricity rate by 3.8-4.3 drams per kilowatt from the current 38 drams.

“High electricity prices will be a blow to country's entire economy. We must preserve acceptable prices,” Yeghiazaryan said.

The economist believes that Russian companies, due to inefficient management style, can not optimize costs and attract the best loans for the modernization of power and distribution networks.