YEREVAN, NOVEMBER 7, ARMENPRESS. Chairman of the Public Services Regulatory Commission Robert Nazaryan clarified why the Commission made a decision to revise the electricity tariff by its own initiative, reports “Armenpress”.

Robert Nazaryan told reporters in the Parliament that as a result of that revision the electricity tariff will be reduced.

“According to the law, we have a right to revise the tariffs in two cases. We revise if we received an application from a company or we think that there is a need to ensure the financial stability of the system, we start revising it through our own initiative. If you remember, in 2014 we started to carry out electricity tariff revision by our own initiative, and we were blamed why we started it since there was no such application, since that time the tariffs were increasing”, he said.

He said in this case it is obvious that the gas price for thermal power plants is defined $15 lower, of course, the electricity tariff must be revised and adequate assessment must be made. “In this case it is obvious that the Commission tends to reduce the electricity tariff”, he said.

To the question how much the tariff will be reduced, Nazaryan said: “At this moment I cannot answer to this question since, except from the component as I mentioned, we are starting a new fiscal year. During this period there have been certain investments as well, which we should consider. We have already sent a relevant note to all companies that we have launched a tariff revision process and we have asked them to present their issues to us so we do the calculations and give a right momentum to tariffs”.

Robert Nazaryan said they will have the gas tariff already in late November which will put into action in January, 2017, and the decision on electricity tariff will be ready in late December which will put into action on February 1, 2017.