Azernews.Az

Iran has increased the electricity price by 25 percent since the current Iranian calendar month of Esfand (started on Feb. 20), Iranian energy minister, Hamid Chitchian said, IRIB news agency reported on Feb. 27.

Chitchian went on to say that the new price will be applied in the first electric bill in the next Iranian calendar year (to start on March 21), which also includes the current month's electric consumption.

In late September 2013, the managing director of Iran's Power Generation Transmission and Distribution Management Company (TAVANIR), Homayoun Haeri said that electricity production in Iran costs three times more than its income.

Iran should increase an electricity price, he said, adding that reviewing the electricity power price is necessary for saving the country's electricity power industry.

Haeri went on to note that generating each kilowatt hour of electricity costs 680 rials (about 0.027 cents based on an official rate of 24,800 rials per each USD), while it is being sold for 430 rials (about 0.017 cents). Some 266 rials (some 0.010 cents) of that amount is being paid to TAVANIR.

Iran's Subsidies Organization receives 166 rials (about 0.006 cents) of the figure, he added.

Currently, some 28 million users are connected to Iran's national electricity power grid.

Iran also trades power with Turkey, Azerbaijan, Armenia, Turkmenistan, Pakistan, Afghanistan, Syria, and Iraq.

The country seeks to become a major regional exporter of electricity and has attracted more than $1.1 billion investments for the construction of three new power plants.