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 All possible misuses that an audit may reveal at Electric Networks of Armenia CJSC were not included in the calculation of the increased power tariff so the findings will not affect the price, MP from the ruling Republican Party of Armenia (RPA), chairman of the parliamentary standing committee on financial, credit and budget affairs Gagik Minasyan told Panorama.am.

As was reported, during a meeting yesterday, on June 26 with Russian Transport Minister, Co-chair of the Armenian-Russian Intergovernmental Commission on Economic Cooperation Maxim Sokolov, Armenian President Serzh Sargsyan said it would be a correct step if the Intergovernmental Commission looked into the possibility of an audit of all activities of Inter RAO UES’ daughter company – Electric Networks of Armenia - with the participation of experts and civil society members. M. Sokolov said that under the umbrella of Intergovernmental Commission, an audit of the company’s activities will be conducted with the participation of experts and representatives of all interested parties in order to carry out that procedure as openly and transparently as possible to make sure that based on the audit results, the situation will be clear to everyone and no questions be raised.

G. Minasian said three factors – a shortage of water, an unscheduled shutdown of the nuclear power plant’s turbine, and fluctuations of the rate of the dram (the Armenian currency) against the dollar – were considered in the calculation of the increased power tariff.
“The tariff is not related to realities resulting from poor management,” the MP said noting that if management mistakes are found during the audit, this may only result in a change of ENA’s heads.

The tariff will not be raised if another source of finance – either domestic funds or foreign loans – is found, Minasyan said.
Meanwhile, a sit-in protest is underway on Bagramian Avenue in central Yerevan. The protest is staged by supporters of ‘No to Robbery’ civic initiative against the rise in electricity tariffs. Participants stress the protest actions they have been staging since June 19 are exclusively social by nature. They demand that the head of state revoke the decision of Armenia’s Public Services Regulatory Commission of June 17 on a rise in electricity tariffs by 6.93 drams.