YEREVAN. – The Government of Armenia will compensate the electricity price hike difference for 105,000 socially disadvantaged families. 

Labor and Social Affairs Minister Artem Asatryan stated the aforementioned at Thursday’s Cabinet meeting. 

He noted that the forthcoming increase in the price of electricity in the country will cost an additional 770 drams (approx. $1.88) per month.

“We [therefore] have decided to set 1,000 drams [approx. $2.44] of [additional monthly] benefits,” Asatryan said.

As a result, the average monthly benefits in Armenia will amount to 30,350 drams (approx. $74.12).

The decision will come into effect on August 1.

The Public Services Regulatory Commission on Tuesday unanimously decided to increase the electricity price in Armenia by 3.85 drams (approx. $0.01), or by about 10 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 the households in Armenia.