Georgian government and Inter RAO UES sign memorandum on cooperation in energy sector

Business Materials 28 December 2012 16:20 (UTC +04:00)

Georgia, Tbilisi, Dec. 28 / Trend, N. Kirtskhalia /

Manager of the Inter RAO UES Boris Kovalchuk and Georgian Prime Minister Bidzina Ivanishvili issued a memorandum on cooperation in the energy sector. This is mentioned in a statement released on the Inter RAO UES website.

As mentioned in the statement, the memorandum is valid through to March 31, 2013. The document considers a tariff reduction by 3.54 lari for a section of the population consuming no more than 301 kilowatts per month.

According to the memorandum, the current consumption rate Telasi is of an interim and temporary nature and intends to form the tariff policy consistent with the Telasi by March 31, 2013.
The parties agreed on designing the long term memorandum in the first quarter of 2013, which includes the development of cooperation until 2025.

"Establishment of long term electricity rates may be equally beneficial to the Telasi, the Inter RAO UES and energy consumers in Georgia, including the public.

It would be possible to design investment allocation and operating activities with maximum precision and high efficiency. Consumers will then be able to plan their funds for paying electricity bills. We welcome the readiness of Georgia to quickly and constructively solve problems with the country's electricity and believe that mutual cooperation will be effective," Kovalchuk said.