Electricity Tariffs To Remain Unchanged Until 2009

ELECTRICITY TARIFFS TO REMAIN UNCHANGED UNTIL 2009

ARMENPRESS
April 16, 2008

YEREVAN, APRIL 16, ARMENPRESS: Energy minister Armen Movsisyan said
Tuesday electricity tariffs will remain unchanged until the end of
the year. His remarks came after prime minister Tigran Sarkisian
announced an end of government subsidy to population and enterprises
for natural gas tariffs Speaking at a news conference energy minister
said the president and the prime minister gave concrete instructions
to develop such regimes within the power grid system that will keep
electricity price unaffected by the imminent rise of natural gas
price from next month.

ArmRosGazprom (ARG), the national gas operator, will enact new prices
from May 1, which were approved by the Public Services Regulatory
Commission (PSRC).

Armenian households and enterprises will not get compensations as
they did since 2006 January when the government transferred $188
million to ARG to cover higher gas price set by Russian supplier,
which rose it from $56 per one thousand cubic meter to $110.