PSRC fines Armenian nuclear power plant in the amount of 10 million drams

Wed 12 Feb 2020 15:45 GMT | 19:45 Local Time

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Based on the findings of a monitoring, Armenia's Public Services Regulatory Commission (PSRC) found that a number of companies operated on the territory of the Armenian Nuclear Power Plant (ANPP) and used electricity produced by the facility, although they were not subscribers to the national power distribution company Electric Networks of Armenia (ENA).

"This in mind, PSRC fined the ANPP in the amount of 10 million drams for violating paragraph 9 of the license agreement N0002," the regulator said in a statement, ARKA reports.

By the same decision, the PSRC gave the Settlement Center company 45 days to make an appropriate recalculation. It also gave the Armenian NPP three months to compensate for the damage sustained to ENA.

The Armenian Nuclear Power Plant is located some 30 kilometers west of Yerevan. It was built in the 1970s but was closed following a devastating earthquake in 1988.  One of its two VVER 440-V230 light-water reactors was reactivated in 1995. The plant currently generates 40 percent of Armenia’s electricity.

In March 2014, the Armenian government decided to extend the service life of the Armenian NPP until 2026. The modernization is funded by a Russian $270 million loan and a $30 million grant. Modernization started in 2019 is to be completed by the end of 2021.

Electric Networks of Armenia CJSC is a monopolist in the field of regulated distribution and marketing of electricity. The company serves more than 1 million consumers. In  September 2015, the company was acquired by the Tashir group. 

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