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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The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
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Climate change poses a serious risk to global economic and financial stability, said Bo Li, Deputy Managing Director of the International Monetary Fund (IMF), at the event titled "Global Financial System: Scaling Up Climate Action Financing" held as part of COP29.
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Azerbaijan's banking sector has unveiled a comprehensive set of initiatives aimed at bolstering sustainable development, according to Zakir Nuriyev, President of the Azerbaijan Banks Association (ABA). Nuriyev outlined the plans during the second panel of the "Global Financial System: Expanding Climate Finance" event.
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Azerbaijan remains steadfast in its commitment to developing a sustainable green economy, according to Taleh Kazimov, Chairman of the Central Bank of Azerbaijan (CBA). Speaking at the COP29 event on Thursday titled “Global Financial System: Scaling Up Finance for Climate Action,” Kazimov emphasized the country's strategic focus on green development as part of its broader socio-economic agenda for 2030.
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