Iran suffers loss from exporting electricity

Business Materials 16 December 2014 13:47 (UTC +04:00)

Baku, Azerbaijan, Dec. 16

By Fatih Karimov - Trend:

Iran's energy minister Hamid Chitchian said the country suffers losses from exporting electricity.

Chitchian said Iran exports some 12 billion kilowatt hours of electricity to the neighboring countries, and earns 138 rials (about 0.4 cents) per kilowatt hours of electricity, but the doesn't cover the expenses, Iran's official Mizan news agency reported on Dec. 16.

Iran exports electricity to 4 neighboring countries, imports from Turkmenistan, and exchanges with Armenia, he added.

He noted that over 100 companies and contractors affiliated with the energy ministry have been transferred to the private sector so far, and over 60 percent of the country's thermal power plants have been privatized.

Iran seeks to become a major regional exporter of electricity and has attracted more than $1.1 billion in investments for the construction of three new power plants.

The country's production capacity has surpassed 70,000 megawatt (263 billion Kwh).