President Vahagn Khachaturyan participated in an event to mark the 20th anniversary of the “Settlement Center” foundation

Today, President Vahagn Khachaturyan took part in an event to mark 20th anniversary of the “Settlement Center” CJSC foundation.

The settlement center performs the functions of managing and operating the wholesale electricity market and commercial electricity metering, providing a centralized intermediary service. It is one of the most important companies in the energy system of Armenia.

President Khachaturyan congratulated the participants on the 20th anniversary of the foundation of the center and delivered a welcome speech, in which he particularly said:

“Aside from the services provided, the center has a special role in the electricity market.

In the modern world, the energy market of the developing countries is already liberalized. Armenia is taking its first step in this direction, considering the EAEU common energy market formation course and the requirements of the EU-Armenia Comprehensive Extended Partnership Agreement of the European Union.

One can’t overestimate the role of the “Settlement Center” in this process, for, in order to withstand the current and future challenges, the center actively participates in the development of the concepts of new electricity market structure of Armenia and electricity trading mechanisms.

As it is noted, the last few years’ reforms of the electricity system also had a great impact on the activities of the company, particularly, due to the liberalization of the electricity market, the company has taken up the role of a market operator, which requires quite complex, responsible and intense work.

The goal of this responsible activity is the transition to a new model of electricity market, which will be based on the modern rules of electricity trading, will operate through balancing demand and supply and will define mechanisms of responsibility of market participants during trading.”

The President wished fruitful work and success to the directorate of the “Settlement center” and the entire staff.