Tariff Council raised from 3rd December natural gas selling prices for large consumers (monthly consumption of more than 10 million cubic meters), including electricity producers. Cost per 1,000 cubic meters of gas increased from 42 to 80 manat.
Economists Khayal Mammadkhanly and Natig Jafarli told Turan this decision will inevitably affect the cost of electricity. They also believe that people should also expect increase in the electricity tariffs.
According to the State Statistics Committee, in 2012, electricity production in Azerbaijan amounted to 22,988 million kW / h, of which 19 537 million kW / h accounted for thermal power plants.
In January 2007, TC threefold increased electricity tariff to 0.06 manats per 1 kW / hour. - 08B -
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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