Iran’s electricity exports jump by 26%
Iran’s electricity exports have soared by 26 percent in the first half of the current Iranian calendar year (started March 21) due to savings generated by implementation of the government’s subsidy reforms plan.
Iran exported 3,940 gigawatt hours (GWh) of electricity to its neighbors during the first half of the Iranian calendar year, IRIB reported Wednesday.
The report added that implementation of Iran’s subsidy reform plan slashed electricity consumption and propelled the country’s energy exports.
Iran’s electricity network is integrated into the power grids of seven neighboring countries, including Afghanistan, Pakistan, Iraq, Turkey, Armenia, Azerbaijan and Turkmenistan.
The subsidy reform plan has enabled the Iranian government to gradually reduce energy subsidies over the course of five years, with low-income families being compensated with direct cash handouts.
The initial stage of the plan was implemented in October of last year when the Iranian administration deposited cash payments into bank accounts of eligible heads of households.
The International Monetary Fund has commended Tehran on its early accomplishments in cutting energy and food subsidies without triggering higher prices to fuel inflation.