“Kyrgyz energy companies suffer 1.5 billion losses a year,” Kubanychbek Turbaev, deputy director of the state fuel and energy complex regulation department of the Energy Ministry said Monday at the public hearings on the new Housing code.

The funds are reportedly paid for energy consumed by the citizens of the country, as their bills do not even cover the net price of the electric and heating energy. “Therewith we decided to raise tariffs and channel the funds to renovation of equipment. In 2010 the Electric Stations will receive about KGS 400 million due to raised rates, to be immediately distributed for certain repair projects. The company will not get the actual profit from the higher rates. The energy distribution companies will follow the same scenario,” Turdubaev said.