BAKU, Azerbaijan, May 3
By Fidan Babayeva - Trend:
The assets of the Azerbaijan Energy Regulatory Agency (AERA) under the Azerbaijani Ministry of Energy as of January 1, 2021 amounted to 18.4 million manat ($10.8 million), which is by 2.2 million manat $1.3 million (13.45 percent) more than a year earlier, Trend reports with reference to the financial statements of the agency.
AERA ended 2020 with a profit worth 2.2 million manat ($1.3 million). Thus, AERA's profit decreased by 73 percent compared to 2019.
AERA's total revenues amounted to 12.5 million manat ($7.3 million) in 2020, which is by 6.4 percent more than a year earlier.
During the reporting period, AERA's liabilities decreased by about 4.4 percent up to 993,000 manat ($584,117) while the balance capital increased by 14.7 percent to 17.4 million manat ($10.2 million).
AERA was established upon the decree of President of Azerbaijan Ilham Aliyev dated December 22, 2017.
AERA operates under the Azerbaijani Ministry of Energy. The main goal of AERA is to bring the quality of utilities in accordance with the requirements of the market economy, to ensure the further development of this sphere, the transparency and flexibility of the energy supply system, as well as the availability of these services for entrepreneurs.
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