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Russia, Armenia to hold joint inquiry into operation of Armenia’s electric company

The decision follows mass protest actions in Armenia’s capital Yerevan following plans for a rise in the price of electricity starting from August 1, 2015

YEREVAN, June 27. /TASS/. The governments of Russia and Armenia will launch a joint probe into the operation of Armenia’s electric power distribution company under an agreement achieved by Armenia’s President Serzh Sargsyan and Russia’s Transport Minister Maksim Sokolov.

The decision follows mass protest actions in Armenia’s capital Yerevan following plans for a rise in the price of electricity starting from August 1, 2015.

Sargsyan said Armenia had to resort to this unpopular measure due to the devaluation of the Armenian national currency and rising electricity production costs.

"In calculating the new tariffs the losses resulting from likely mistakes in running the company were not taken into account," Sargsyan said.

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