Deloitte consulting company (UK) will conduct studies at the Electric Networks of Armenia (ENA) CJSC, and provide respective advisory services.

Deputy Prime Minister Vache Gabrielyan, who is also the Minister of International Economic Integration and Reforms of Armenia, stated about the abovementioned at Thursday’s Cabinet session.

He recalled that on July 27, the Public Services Regulatory Commission (PSRC) of Armenia had sent an invitation to the five prestigious international consulting companies in the world.

“As a result of our study, we propose to declare Deloitte, whose price offer was significantly lower, as the winner,” added Gabrielyan.

Prime Minister Hovik Abrahamyan, in turn, assured that as a result of this study to be conducted at the ENA, the people of Armenia will get answers to many questions.

“It’s a world-renowned company, and based on its conclusion, we will be able to move ahead,” said the PM.

Despite numerous protests, the PSRC of Armenia recently increased the price of electricity in the country by 6.93 drams—instead of 17 drams, proposed by the ENA—, per cubic meter, and this decision took affect on August 1. But the decision is expected to be followed by an increase in the prices of numerous products and services in the country.

President Serzh Sargsyan, however, stated that the government will subsidize this price hike until an international audit is conducted at the ENA, which supplies electricity to the country’s residents and whose proprietor is the Russian state-owned Inter RAO UES Company. Sargsyan also said should the audit show that the aforesaid increase in electricity tariff is unjustified, the government will take measures to get back the already paid amount from the ENA, and bring to account the officials who are responsible for this price hike.