Taking into account the fact that Tashir group owns "Cascade Energo Holding" energy company, which has a long-term experience and is one of the best companies in Russia, the Armenian Government has addressed the President of Tashir Group Samvel Karapetyan with a request to purchase Armenia's energy assets from Inter RAO. As Armenia's Prime Minister Hovik Abramayan announced at the Armenian Government Session on October 1, Tashir Group kindly fulfilled the request.
According to the Prime-Minister, Tashir Group held consultations within a short time and has already signed an agreement with Inter RAO of sale and purchase of electric energy assets in Armenia. The Armenian Government and Public Service Regulatory Commission have already approved the deal. Fulfilling the Government's request, Tashir committed itself to implement international best business practices into CJSC "Electric Networks of Armenia" and to hold down technological and commercial losses in the system during 5 years. The parties have agreed that Electric Networks of Armenia and Hrazdan Thermal Power Plant will continue to meet all the liabilities.
At the same time, as Abrahamyan noted, Samvel Karapetyan in order to support the people of Armenia has expressed readiness, on a parity basis with the Government of Armenia, to spend his own funds to compensate for the tariffs of electricity of the general public and small businesses till August 1, 2016. As Abrahamyan explained, "604 thousand from 766 889 users monthly consume 250KWh in average. The Armenian Government on a parity basis will compensate for the payments of this group of people, as well as will partly compensate for the payments of those small businesses which consume up to 500KWh.We express our gratitude to Mr. Samvel Karapetyan for this", Hovik Abrahamyan said. The rest of the citizens, who have financial capacities, will have to pay for the electricity in high rates taking into account the objective situation.