The Ministry of Finance announced a tender to attract an international consultant who will examine the cost of electricity and technical losses in Azerenergy JSC.
According to the requirements, the consultant company will also carry out diagnostics of efficiency of power plants and energy facilities.
According to the State Statistics Committee, in 2014 Azerenergy produced 21.9 billion kilowatt-hours of electricity. The loss of electricity from power plants by the end user for the year amounted to 3 billion 362.6 million kWh. In total in 2007-2014 technical losses of electricity in Azerbaijan totaled 28.5 billion kilowatt-hours, according to SSC.
Note that this is the first such case, when the government checks the activity of JSC Azerenergy for the use of material resources and the efficiency of power plants’ work. ----08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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