YEREVAN. – Electric Networks of Armenia said the electricity rate set by Public Services Regulatory Commission is absolutely unacceptable.

The statement by company's chief Yevgeny Bibin was read out by Commission's chairman Robert Nazaryan during the meeting on Wednesday.

If the Commission agrees to raise the electricity tariff for consumers by 6.93 instead of 17, the company can not guarantee the required quality and safety of electricity supply, as well as the necessary investments to maintain and upgrade the network.

In this case, the company will turn to the Commission to discuss the possibility of continuing its licensed activity, because in this case the execution of the company's license obligations will be impossible.