Hike In Electricity Tariff In Armenia Due to Russian Loan for Metsamor NPP: Deputy Minister of Energy

The electricity tariffs for Armenian citizens will be raised by 2.5 drams per a kilowatt-hour of energy, Areg Galstyan, RA Deputy Minister of Energy and Natural Resources, said during a session at the National Assembly on Wednesday, April 29. The increase in the tariff will be made to pay off the loan for extending the service life of the second reactor unit of the Metsamor Nuclear Power Plant, the Minister announced. 

Recall,  the electricity tariff in Armenia was raised from 38 AMD per kWh to 42 AMD per kWh in July, 2014. 

Today, at the National Assembly, Areg Galstyan presented the intergovernmental cooperation agreement signed between Russia and Armenia on December 20, 2014, for extending the lifespan of the second reactor unit of Metsamor Power Plant, stating that the financial terms of the loan have also been agreed upon and would be presented to the Parliament in the future. 

If everything goes as planned, Galstyan said, the operational life of the second reactor unit of Armenia's nuclear power plant will be extended for another 10 years, until 2026. The politician noted the importance of the agreement, stating that the term of the license of the first reactor unit will end in 2016, and if the second one is not utilized by then, Armenia will face serious problems.