YEREVAN. - By mid-2016 Electric Networks of Armenia CJSC will pay the debts to the energy companies in the republic, Areg Galstyan, Deputy Minister of Energy and Electric Resources said in the parliament on Monday. Currently the company is involved in redemption of debts to both generating companies (for energy) and high-voltage electric networks (for delivery), he said.

“By mid-2016 the debts will be returned and no uncontrolled difficulties will be expected here,” the Deputy Minister said.

Despite the numerous protest actions over the electricity price hike, the new electricity tariff was approved at the session of Armenia’s Public Services Regulatory Commission of Armenia (PSRC) on June 17. Consequently, the electricity price has gone up by 6,93 AMD, reaching 48,78 AMD (previously 41,85 AMD) per 1 kWh. During the approval of the new tariff in 2016, the debt load will be removed. As stated earlier by the head of PSRC, this will unload the tariff by 5 AMD.