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Iran economizes 20 billion KW after removing subsides

Oil&Gas Materials 13 July 2011 17:48

Azerbaijan, Baku, July 13 /Trend/

By cutting subsidies, Iran's electricity consumption fell by two percent and will lead to up to 20 billion kilowatts per hour in saved energy power per year, IRNA reported quoting Deputy Energy Minister Mohammad Behzad as saying.

"Cutting subsidies avoided 8 percent growth on energy consumption and reduced electricity consumption by 2 percent," he said.

Cutting subsides also affected the country's power export by 15 percent increase and improved consumption capacity in industrial sector by 14 percent.

He predicted more than 6 billion liters of fuel consumption will be economized by implementation of cutting subsidies.

The 20 million kilowatt per hour saving on electricity has led the government to invest on construction of 500 to 600 new power plants and brought $6 billon economizing of foreign currency.

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