37.5% Gas Price Hike Come April 1

37.5% GAS PRICE HIKE COME APRIL 1

2010/02/26 | 15:00

Society

The RoA Public Services Regulatory Commission today gave the green
light for "HayRusGazArd" to hike its natural gas rates to 132 AMD
per cubic meter as of April 1, 2009.

The utility’s current rate for residential gas customers is 96 AMD.

"HayRusGazArd" had sought a price of 136 AMD from the Commission.

Prices for larger commercial enterprises are to go up by 17%.

HayRusGazArd pointed to the depreciation of the Armenian AMD by more
than 25% over the past year to substantiate its request to raise gas
prices. The utility also claimed that the cost of imported Russian
gas would rise almost 17% come April and said that natural gas from
Iran is even more expensive.