Azerbaijan Energy Regulatory Agency’s profit falls sharply


May 3, Fineko/abc.az. The profits of the Azerbaijan Energy Regulatory Agency (AERA) under the Ministry of Energy fell sharply.

ABC.AZ reports that in 2020 the Agency made profit of AZN 2.225 million (72.9% less than in 2019).

AERA’s total revenues for 2020 amounted to AZN 12.522 million (6.4% more than a year earlier), administrative and operating expenses AZN 10.11 million (42.8% more), reserve income for impairment – 1 million 686 thousand manats (67.3% more), reserve expenses for impairment – AZN 1.986 million (17.8% more), other income – AZN 18,000 (no income in the previous year), income from exchange rate differences – AZN 5,000 (approx. 43-fold more), and losses from the exchange rate difference – AZN 10,000 (about 37-fold more).