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APC: Billions of profit made from power tariff increase are paid to shareholders

October 15 2012, 16:19

According to Gabidulla Abdrakhimov, the Chairman of Agency for Protection of Competition (APC), in the result of APC’s joint audit with the Prosecutor General’s Office, the Ministry of Industry and AREM a number of problems in the sphere of power production has been revealed: the majority of the funds received as the result of power tariffs’ increase was spent for payment of dividends to the shareholders.

Except payment of big amounts of dividends, the power stations included into tariffs the expenses which were not related to production of electricity. Abdrakhimov also said that currently the government is reviewing the proposals made by the Agency aimed at resolution of the above mentioned problems.

APC suggests to establish individual tariffs for each power producing plant.

WKT citing

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