YEREVAN. – Had the reality not forced, we likewise would not have convened a session.

Robert Nazaryan, Chairman of the Public Services Regulatory Commission of Armenia, stated the above-said during the commission meeting on Tuesday, commenting on their decision raise the price of electricity in the country as of August 1.

“The question as to how the [electricity] price hike will impact the standard of living is logical, but its solution is beyond our powers. 

“If you can show reserves owing to which the price can be kept the same, show [them]! We have not found these sources, whereas the energy system [of Armenia] needs new means to regulate the activities,” Nazaryan added.

The Public Services Regulatory Commission on Tuesday held a meeting and unanimously decided to increase the electricity price by 3.85 drams (approx. $0.01), or by 9.9 percent, as of August 1.

Accordingly, the daytime rate will increase from 38 drams (approx. $0.09) to 41.85 drams (approx. $0.10), and the nighttime rate will rise from 28 drams (approx. $0.07) to 31.85 drams (approx. $0.08), per kilowatt hour, for most residents in Armenia.