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Consulting firm says power price hike in Armenia justified

Deloitte and Touche international audit firm has said the power price hike in Armenia was justified.

The company has presented the report on the first stage of consulting services to the Public Services Regulatory Commission.

“We analyzed the situation in Armenia, where the sole energy supplier stands at the verge of default, which is mainly connected with the inconsistency between the predictions of the system’s operator and the load capacity,” Deloitte and Touche said in the report.

“Power generating companies had already felt the influence of the scarcity of financial means of the company [Electric Networks of Armenia], which would threaten the whole energy system of the country in the short-term perspective,” the report reads.

“Under these conditions we consider that the decision of the regulatory body to stabilize the situation in the sphere and ensure reliable energy supply to consumers is justified.”

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