Armenia’s Public Services Regulatory Commission (PSRC) today decided not to raise natural gas prices for most individual consumers.

The PSRC did allow for a price rise for large business consumers of natural gas.

On April 1 of this year, Gazprom Armenia CJSC applied to the PSRC to review the tariffs for natural gas sold to consumers.

The utility asked for an average price increase of 11%, arguing that the current tariffs made it impossible to operate in the black.

The PSRC, however, decided to increase the average weighted price of natural gas by 4.6% (from $255.06 to $266.71).

The increase will mostly impact large natural gas consumers.