Armenpress

HAYRUSGAZARD TO SUSPEND ELECTRICITY SALE TO GEORGIA

YEREVAN, MAY 13, ARMENPRESS: Hayrusgazard joint Russian-Armenian venture
that is the sole supplier of Russian gas to Armenia, has confirmed today its
plans to suspend electricity supplies to neighboring Georgia. A press
release by the company said it has agreed with Georgian United Distributor
Company (UDC) to stop electricity delivery in a week time.
Hayrysgazard said the main reason behind stopping sale of Armenian
electricity to Georgia was the rise of Armenian national currency’s value
against US Dollar, making electricity export unprofitable.
Hayrusgazard also said it is ready to consider a new request by UDC to
resume electricity supplies