ArmInfo. Capital Finance International (CFI.co) magazine recognized the Electric Networks of Armenia as the best electricity supplier in the Caucasus region in 2019.
"When choosing, we took into account the compliance with the European Bank for Reconstruction and Development standards, a lot of attention paid by the company to the development of social responsibility and programs aimed at solving environmental problems. Having studied the company's activities over the past few years, we see that the company does not spare any efforts to improve the quality of services and customer satisfaction, "said executive director of magazine Jackie Chapman.
"It is a great honor for us to be awarded this prize. And all this is the result of the work of the whole team. We are working today in the direction of maximizing the quality of services and customer satisfaction. I thank the staff and the monthly CFI.co for such a high appreciation of our work", noted Karen Darbinyan, Chairman of the Board of Directors of "Electric Networks of Armenia" CJSC. CFI.co is a print magazine and online platform for business, economics and finance. The magazine notes that the traditional division between developed and emerging markets is gradually decreasing, as links between countries are developing more and more. The magazine presents the latest trends in world economics and finance. The CFI.co office is located in London.
To note, as ArmInfo previously reported, a 10-year program worth over $ 730 million is implemented at Electric Networks of Armenia, aimed at improving the quality of services, reducing losses and satisfying consumer needs. The European Bank for Reconstruction and Development ($ 80 million), the Asian Development Bank ($ 80 million) and the Eurasian Development Bank ($ 20 million) showed their participation in the project.
The Tashir group of companies, headed by a large Russian businessman of Armenian origin Samvel Karapetyan and Inter RAO, on September 30, 2015 signed an agreement on the sale and purchase of electric power assets of the Russian energy holding in the Republic of Armenia - Electric Network of Armenia CJSC and Hrazdan TPP. Electric Networks of Armenia CJSC was established in May 2002 as a result of the merger of four state regional electricity distribution and sales companies: Yerevan Electric Networks, Northern Electric Networks, Southern Electric Networks and Central Electric Networks. The main activity of the company is the regulated distribution and sale of electricity. The total length of networks is 36 thousand km. The company serves about 985.000 consumers. Electric Networks of Armenia CJSC has an exclusive license for transmission and distribution of electricity on the territory of the Republic of Armenia at guaranteed tariffs calculated on the basis of the company's costs and an adjustable rate of return on invested capital.