There is a type of electricity connection that has increased in price tenfold: We will reduce it by 30-40% - Petrosyan

There is a type of electricity connection that has increased in price tenfold since April 1, 2023. Moreover, this falls under mass connections, and it is now evident that there is also a distortion there from a social burden perspective. The public services regulatory authority finds such a price increase incomprehensible. This was stated by Romanos Petrosyan, the acting manager of Electric Networks of Armenia (ENA), during a working meeting with Prime Minister Nikol Pashinyan.

“We will obviously review that tenfold increase. We are currently conducting calculations since the revision itself will impact the company's budget for the next year, including a certain amount of that burden in the tariffs. However, having enormous financial savings from the implementation of investment programs and procurement processes, as well as ensuring transparency, we will allocate a portion of those savings for sub-sidizing it in the company’s budget. We cannot reduce it tenfold, but at least we can expect a revision of 30-40%,” said Romanos Petrosyan, the acting manager of ENA.