YEREVAN. – Armenia's Energy Minister Yervand Zakharyan admitted no one is happy with electricity price rise.

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) as of August 1.

“I am not happy with the decision, but there are problems that need solutions. The actions of the Commission were justified and reasoned. Unfortunately, there is no other option to settle the issue,” Zakharyan told reporters.

The government continues efforts to mitigate social consequences of electricity price rise, he said. The Cabinet members will consider an opportunity to increase allowances for nearly 105,000 socially vulnerable families.