The respective decision was reached at Monday’s Cabinet session.
The Minister of Energy and Natural Resources, Yervand Zakharyan, stated that in the case of the residents, the subsidy will be made in the amount of 6.93 drams per kilowatt/hour, for all consumed electricity.
The country’s enterprises and organizations, on the other hand, will get a partial subsidy. These electricity consumers will receive a monthly subsidy for up to 250 kilowatts per hour.
Zakharyan told reporters, however, that the subsidies allocated to public as of August 1 have not yet been calculated.
“[But] we will soon calculate and present [them],” added the minister.
Electricity prices in Armenia have increased as of August 1. The aforesaid subsidization of these price hikes will continue until Deloitte & Touche CIS consulting firm submits conclusions. The company will analyze the country’s energy system, and provide the government consulting on energy management.