Azerbaijan, Russia reach electricity deal

Azerenergy Vice-President Marlen Asgarov told the APA that the parties come to agreement to continue electricity exchange.

As per the agreement, Azerbaijan will import 200 to 250 megawatts of electricity (some 1bn kilowatt a year) in peak consumption hours at a final price of 3.636 cents per kilowatt, close to 3.6 cents in 2006.

Azerbaijan also raised the price of electricity being sent to Russia at nights to 1.8 cents from 1.58 per kilowatt.

The fixed prices cover only the first quarter in the one-year contract.

Azerbaijan imported 0.7bn kilowatts of Russian electricity in 2006.