Yerevan/Mediamax/.  In 2011, the growth of utilization of electricity in Armenia made 9.6%, Executive Director of Electric Networks of Armenia (ENA), Yevgeniy Bibin, said today.

Yevgeniy Bibin said that the biggest increase in consumption is observed among small and medium enterprises (16-17%) and the population (12.6%), and the number of company’s new consumers in 2011 made 2432. ENA’s income in 2011 is expected to be AMD 2.5bln, Mediamax reports.

“According to our forecasts, the growth of electricity consumption in 2012 will make 10%. If Nairit and Vanadzor Khimprom chemical factories start functioning next year, the consumption growth will reach 14%,” Yevgeniy Bibin said.

According to him, electricity consumption in Armenia already exceeds the pre-crisis level of 2007-2008, without taking into consideration Nairit and Vanadzor Khimprom, which used to function before the crisis.

“The launch of industrial enterprises is crucial for us. If 20 years ago the population’s share in the consumption of electricity made only 6-8%, today it reaches 40%, and the industrial sector consumes 20% of the energy produced,” said Yevgeniy Bibin.

ENA CEO also said that in 2012, the company is going to increase the export of electricity to Georgia and Iran after the launch of the 5th energy bloc of Hrazdan Thermal Power Plant early next year and the construction of backbone transmission lines to neighboring countries.

The volume of ENA’s investments in 2011 will make AMD 19bln. In 2010, investments made AMD 34bln. The decrease of the volume of investments is conditioned by the necessity of repayment of borrowed funds in the amount of $180mln (AMD 69bln).

“The annual volume of investments in coming 2-3 years is expected to make AMD 7bln, AMD 3bln of which will be directed to the connection of new consumers,” said Yevgeniy Bibin.