Announcement

Collapse
No announcement yet.

Hayrusgazard to sell electricity to Georgia until June

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Hayrusgazard to sell electricity to Georgia until June

    HAYRUSGAZARD TO SELL ELECTRICITY TO GEORGIA UNTIL JUNE

    Armenpress

    YEREVAN, MAY 3, ARMENPRESS: The Russian-Armenian joint venture
    Hayrusgazard said it will continue electricity supplies to neighboring
    Georgia until June. Shushan Sardarian, a spokeswoman for the company,
    said talks are underway with Georgia's United Distribution Company in
    an effort to raise the price of the electricity. She said the company
    has been sustaining heavy damages due to the dramatic appreciation
    of the Armenian national currency dram.

    Hayrusgazard now sells electricity to Georgia at US 2.5 cents per
    one kilowatt/hour. Though the contract with the Georgian company
    terminated on March 31, the latter asked for 900,000 kilowatt/hour
    daily electricity supplies until June.

    On Monday the International Energy Corporation, a Russian-owned company
    stopped supplies of Armenian electricity to Georgia, citing substantial
    losses incurred as a result of the dramatic appreciation of the dram.

    The dram has strengthened against the dollar about 30 percent since
    the beginning of last year, incurring losses to export-oriented
    Armenian companies, as a strong dram makes their products less
    competitive abroad.

    Meantime Georgian deputy energy minister Aleko Khetaguri announced
    on May 2 that the government is accepting privatization bids for the
    state-owned energy distributing company and five hydro power plants.

    These five hydro power plants are all in western Georgia.

    The United Distribution Company (UDC), which is currently managed
    by the U.S. company PA Consulting - a USAID contractor company,
    distributes electricity in the regions throughout Georgia.
Working...
X