EconomyIran

Iran electricity exports up by 28%

Iran’s electricity exports to neighboring countries have increased by roughly 28 percent over the last 11 months compared to the corresponding period the previous year.

The Iranian Energy Ministry announced on Monday that it has exported 7,775 megawatt-hours of electricity since the beginning of the current Persian Calendar Year (started March 21, 2011).

The figure shows a 27.86 percent increase compared to the similar period last year, which stood at 6,065 megawatt-hours.

Electricity consumption has decreased considerably in Iran since the implementation of the subsidy reform plan.

The plan has paved the way for more electricity exports to neighboring Azerbaijan, Armenia, Pakistan, Turkmenistan, Turkey, Iraq, Afghanistan, and Nakhchivan.

The subsidy reform plan, which began in late 2010, has enabled the Iranian government to begin to gradually reduce energy subsidies over the course of five years, with low-income families compensated with direct cash handouts.

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

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