By Gevorg Sargsyan
The final fifteen years have noticeable Armenia emerge from Soviet rule and a serious monetary and effort hindrance, either advanced via its newfound political atmosphere. The final ten years have obvious major reform and growth within the energy quarter which, compared to the growth made by means of its acquaintances, is the entire extra outstanding. some great benefits of reform haven't been simply received, besides the fact that, and Armenia?s good fortune is a tribute to its skill to benefit from error and persevere. a mixture of unsuitable making plans and undesirable fortune compelled the govt of Armenia to move via 3 separate tenders for its privatization resources. a mixture of excellent making plans and luck eventually allowed for what has became out to be one of many region's such a lot winning infrastructure privatizations up to now.
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Additional info for From Crisis to Stability in the Armenian Power Sector: Lessons Learned from Armenia's Energy Reform Experience (World Bank Working Papers)
Failure to curb commercial losses and raise tariffs to cost recovery levels meant inefﬁcient utilization of resources and deadweight loss. The annual sum of explicit and implicit ﬁscal subsidies to Armenia’s power sector reached US$141 million in 1995, roughly 11 percent of the country’s GDP during that year. 1 shows the annual ﬁscal and quasi-ﬁscal subsidy provided to the power sector from 1994 to 2004. 7 shows the breakdown in graphical format of this ﬁscal and quasi-ﬁscal power sector debt. 1 shows the amount by which the necessary ﬁscal subsidy was reduced as the effect of power sector reforms took hold (this is simply the difference of US$137 million and the subsidy required during that year).
This meant that all 110 kV substations were included as part of the privatization package to avoid an ongoing problem of Armenergo, with the cooperation of certain hydropower plants, selling power directly to distribution customers connected to those substations. This eliminated a signiﬁcant potential source of commercial transmission losses. It meant putting in place a government decree that allowed the EDC to disconnect customers in default. It also meant putting in place a guarantee mechanism, via the Central Bank, against late payment or nonpayment by so-called VIP customers who continued to beneﬁt from lax payment enforcement and yet were guaranteed uninterrupted supply of power.
The true welfare cost of utilizing these fuels is not reﬂected in their market prices, thereby implying more price elasticity of demand for electricity than is efﬁcient. This includes health effects, or other less tangible quality of life implications resulting from changes in energy consumption patterns or coping strategies. More expensive electricity consumption has meant signiﬁcant switching to solid fuels (wood, trash, or dung) for heating and cooking, which has very signiﬁcant detrimental health and environmental effects.
From Crisis to Stability in the Armenian Power Sector: Lessons Learned from Armenia's Energy Reform Experience (World Bank Working Papers) by Gevorg Sargsyan