YEREVAN. - Armenia’s PM Hovik Abrahamyan today held a consultation on the future audit in the Electric Networks of Armenia (ENA) CJSC. The consultation participants discussed the invitations to the largest audit companies in the world. The audit will check the reasonableness of the electricity tariff rates set by Armenia’s Public Services Regulatory Commission (PSRC).

Yervand Zakharyan, Armenia’s Minister of Energy and Natural Resources, presented the process of preparatory work to the upcoming audit, which is to be performed jointly with the Russian side, Armenia’s government press-service reports.   

PSRC Chairman Robert Nazaryan reminded about the suggestion package, submitted by international companies. According to him, the suggestions have already been resumed and will be sent to the government in the coming days.  

Despite various protests, PSRC approved the electricity tariff rise by 6,93 AMD, in which case it constitutes overall 48,78 AMD (approx. $10,3 cents).

On June 27, Armenia’s President Serzh Sargsyan held a consultation with state officials in charge of the country’s economic policy. During the consultation he stated that before the completion of audit, the government will subsidize the tariff rise.

If the audit justifies the tariff rise, the consumers will have to pay according to the new tariff. Otherwise, the government will take measures to collect from the EPA the overpaid amount and hold liable the officials in charge of the price increase.