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The Armenian government will soon take and publish a decision that indicates the source of subsidizing the increased electricity tariffs and the amount of subsidies, the head of Financial and Economic Department of Armenian Ministry of Energy and Natural Resources Boris Gyulumyan told a press conference today.

Prior to the completion of consulting services, Electric Networks of Armenia (ENA) Company will file a note for calculation of subsidies, the ministry official said.

Gyulumyan considered as justified the Armenian government’s decision not to subsidize the power tariff hike for big businesses.
As regards the question of how justified the rise of power prices is, Boris Gyulumyan said that the results of an audit will give an answer.

The new electricity tariffs came into effect in Armenia on August 1. The government decided to subsidize the tariff rise from extra-budgetary funds by paying 6.93 drams per kWh to the population (for the whole amount of electricity consumed monthly) and small and medium enterprises consuming up to 500 kWh each month. Subsidies for 250 kWh per month will be paid to SMEs.