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7 billion 798 million KWh of electricity was produced in Armenia in 2015, which was by 0.62% more than in 2014, Armenian Minister of Energy and Natural Resources Yervand Zakharayn said at a press conference today when summing up the work done in the energy sector last year. 

Last year, 1 billion 422 million KWh was exported to Georgia, Iran, and Nagorno Karabakh, and over 1 billion cubic meters of natural gas was imported from Russia, according to the minister.

Y. Zakharyan described 2015 as a rather complex and difficult year for the country’s energy system. “But we largely managed to deal with the problems and create favorable preconditions to improve the financial situation in the system and enhance capacities,” he said.

The minister added: “The year 2015 was difficult since power prices were raised. It was an undesirable phenomenon, but we had to take that step. We had an inefficient management system. Electric Networks of Armenia (ENA) CLSC suffered considerable losses due to poor management”.

“Losses amounted to 36. 4 billion drams and were related to the nuclear power plant and a shortage of water. It resulted from the fact that the energy balance was drawn up incorrectly, Zakharyan said, noting that a new procedure of drawing up an energy balance was established.   “Serious work has been done to improve management, and a reduction in actual losses of electricity is now reported. Losses amount to 11.1%, declining in comparison with the previous years,” Zakharyan said.

Commenting on activities of ENA’s new owner- Tashir Group, the minister said Tashir Group has done serious work in the past few months.

“We set great hopes on the company. Thanks to a targeted use of investment, we will have a financially stable and technically upgraded system,” Zakharyan noted.