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S&P anticipates no tariff revisions in Azerbaijan in next two years


From December 2016, the Tariff Council increased Azerenerji's tariffs by about 33% in order to compensate for the 50% increase in prices of gas and 2.4x increase in prices of fuel oil purchased from the sole supplier, Azerbaijan's state oil company, SOCAR, S&P reported.

 

‘We do not anticipate new tariff revisions, at least in the next two years, given the economic and social sensitivity of such moves. We expect the company to report positive results from operating activities, but we forecast discretionary cash flow will turn negative in 2018 if heavy capital expenditure is not supported by the state’, the agency said. 

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