TODAY.AZ / Business

Azerbaijan, Russia sign new electricity deal

25 February 2008 [17:55] - TODAY.AZ
Russia’s Inter RAO EES and Azerbaijan’s AzerEnerji have completed negotiations on electricity and signed an agreement.

Marlen Asgarov, Vice-President of AzerEnerji, said the parties have agreed on three-mode electricity deal.

“The price is the same for exchange of electricity. The price will be based on three modes – daytime, night and peak consumption hours,” he noted.

On January 15, 2007, Azerbaijan’s AzerEnerji and Russia’s RAO EES signed a deal in Baku for exchange of electricity in 2007.

As per the agreement, Azerbaijan would import 200 to 250 megawatts of electricity (some 1bn kilowatt a year) in peak consumption hours at a final price of 3.636 cents per kilowatt, close to 3.6 cents in 2006.

Azerbaijan also raised the price of electricity being sent to Russia at nights to 1.8 cents from 1.58 per kilowatt.

The fixed prices covered only the first quarter in the one-year contract.

The parties amended the agreement in April, not releasing the details because of trade secret.

Under the April deal which covers the period up to February 2008, Russia increased prices while leaving the volume of electricity exports to Azerbaijan unlimited.

Under the barter agreed, the parties exchange electricity on the equal basis.

/APA/
URL: http://www.today.az/news/business/43362.html

Print version

Views: 1439

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: