The Ministry of Territorial Administration and Infrastructures of Armenia, the Public Services Regulatory Commission of Armenia and the USAID signed today a trilateral memorandum of mutual understanding at Armenia Marriott Hotel Yerevan to promote liberalization of the electricity market in Armenia and develop and introduce the necessary legislation. The memorandum prescribes the development and maintenance of an electricity market management system, as well as the actions and duties of the parties for effective exploitation.

Among those attending the signing ceremony were Deputy Minister of Territorial Administration and Infrastructures Hakob Vardanyan, Chairman of the Public Services Regulatory Commission Garegin Baghramyan and USAID Mission Director for Armenia Deborah Grieser.

Hakob Vardanyan transmitted the welcoming remarks of Minister of Territorial Administration and Infrastructures of Armenia Suren Papikyan, stating that the Armenian government has created all the opportunities for internationally recognized companies to make investments in Armenia’s energy sector. “The 400 kW Armenia-Georgia and Armenia-Iran electric communication lines will be exploited over the next couple of years and will raise the energy system of Armenia to a whole new level,” Vardanyan said.

On his and the minister’s behalf, the deputy minister expressed gratitude to the US government and the USAID for their ongoing support to the energy system of Armenia and expressed confidence in the deepening of cooperation in the future.