In her article in Lragir.am Naira Hayrumyan mentions that oil price reduction does not affect the prices in Armenia because Armenia has signed a contact with Russia according to which oil and gas depends on colonial relations rather than the market. The result is the price increase in electricity since August 1.
According to experts, one of the main reasons why Armenian products are not competitive is expensive power which develops imports, destroying local production.
Nowadays the whole world gradually transforms to renewable energy, which is an important factor for further development. The United States and the European Union have a great role in this sense. The U.S. government has called American investors to invest in renewable energy in Armenia. Although the investments are now limited to Vorotan Cascade a lot is yet to come.
Now Armenia is about to decide its transition to a new energy strategy which is only possible after its oil and gas dependence on Russia no longer exists.
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In her article in Lragir.am Naira Hayrumyan mentions that oil price reduction does not affect the prices in Armenia because Armenia has signed a contact with Russia according to which oil and gas depends on colonial relations rather than the market. The result is the price increase in electricity since August 1.