INSIGNIFICANT INCREASE IN ELECTRICITY PRICE EXPECTED AT VOROTAN CASCADE

June 06, 2014 | 18:55

YEREVAN. – There will be insignificant increase in electricity price
at the Vorotan cascade in 2014, Public Services Regulatory Commission
chairman Garegin Baghramyan told Armenian News-NEWS.am.

Back in 2010 the Armenian government received from the German KfW bank
a loan of 51 million euros to renovate Vorotan cascade. In 2010-13,
the tariff for sale of electricity from Vorotan was significantly
increased, from 0.96 drams in 2010 to 6.8 – in 2013.

Baghramyan claims there is no need in further increase, and the
changes will be insignificant.

The agreement on the sale of the Vorotan Hydro Cascade, a series
of three hydroelectric power plants, to Contour Global was signed
in January.

A $180-million deal is the largest U.S. private investment in Armenia’s
history and the first U.S. investment in Armenia’s critical energy
sector.

News from Armenia – NEWS.am

From: A. Papazian