2024-04-06 06:53:43
“Electrical Networks of Armenia” has issued bonds worth 32 billion drams, which were distributed by various investors, the general director of the company said at a meeting with journalists. Karen Harutyunyan.
“36.1 percent of acquisitions are banks, 53 percent – pension funds, 10.8 percent – retail investments. We have a total of 311 investors,” Harutyunyan said, noting that this is the largest issue of dram bonds in the country.
Director of Economics and Finances of the National Academy of Sciences Armen Arshakyan presented that until 2015, until the moment when the HEC was transferred to the management of the “Tashir” group, the investments were of an irregular nature and were not aimed at development, but at maintaining the existing situation.
“Since 2016, the company has drawn up a 5-year and then a 10-year investment plan. Since 2016, our large-scale investment program has amounted to 235 billion drams, an average of 30 billion drams per year, excluding VAT.
In 2016-2030, the expenses aimed at increasing the quality of service, reliable and uninterrupted supply of electricity amount to about 160 billion drams, the plans for connecting networks to new consumers and expanding networks will amount to 171 billion drams. We plan to have a total investment of 461 billion drams,” Arshakyan presented.
According to him, in 2002-03, when the networks were privatized, technical and commercial losses in the system were 21 percent, now they are 6.6 percent.
“We save 14 billion drams annually from reducing the loss of electrical energy, 3.6 billion drams as a result of optimizing the salary fund, and 2.7 billion drams as a result of reducing maintenance costs. The annual saving is about 20 billion drams, which allows to mitigate the impact of the tariff on the consumer and not to add an additional burden,” said Armen Arshakyan.
Technical director of the company Davit Grigoryan referring to the new subscribers of the network, he said that 75,000 subscribers joined the network in 2016-23, and 118,000 more are planned to be connected.
“As of 2023, we have connected 19,939 subscribers to the network in Yerevan alone. By 2030, it is planned to connect about 68,000 subscribers to the network in apartment buildings alone.”
As for emergency shutdowns, Davit Grigoryan said that in 2018, the number of shutdowns was 13,000, and in 2023, 9,693.
“This number is dynamically decreasing, which indicates the effectiveness of the investment program.”