«Zhoghovurd». HEC has come under the scrutiny of the PSRC and will be warned

«Zhoghovurd» newspaper reports: «The Armenian Electricity Networks company has come under the scrutiny of the Public Services Regulatory Commission (PSRC). It turns out that HEC is required to renegotiate electricity supply contracts with its subscribers by March 1 of this year. However, as of letters dated March 24 and July 3, the company reported that it has renegotiated 89 percent of the electricity supply contracts with subscribers. Following the declaration of a state of emergency on March 16 due to the spread of the coronavirus disease (COVID-19), all functions involving direct communication with subscribers were suspended until the end of the state of emergency. Simultaneously, the company informed the PSRC that it had suspended the electricity supply to those subscribers who, for various reasons, refused to renegotiate the contracts according to the new standard model of electricity supply. However, after the declaration of the state of emergency, electricity supply was restored again.

Despite this, according to the PSRC, the company violated the requirement set forth in point 2 of the Commission's decision from May 31, 2017, by not renegotiating the electricity supply contracts with subscribers by March 1, 2020, and not applying to the Commission for an extension before the deadline. As a result, the PSRC will make a decision on August 5 regarding issuing a warning to HEC.

For more details, see today’s issue of the newspaper.