YEREVAN (ARKA), June 16–The Public Services Regulatory Commission (PSRC) of Armenia and the Iowa Utilities Board (IUB), signed a Memorandum of Understanding, designed to foster collaboration on energy regulation on Tuesday in Yerevan.

The memorandum was signed within the programs of the National Association of Regulatory Utility Commissioners (NARUC), with the support of the US Agency for International Development (USAID).

“This new format of cooperation, which envisages the exchange of experiences and information among regulatory authorities of Armenia and Iowa, will contribute to improving the work of both departments,” the Head of International Programs NARUC Chris Mahon said during the signing ceremony.

According to him, the US has more than a century of experience in regulating the energy sector, and the agreement signed today will enable Armenia to learn from this experience. The US regulator, in turn, can learn and apply the Armenian experience.

“Cooperation will promote and enhance the transparency of the regulatory bodies and improve their performance,” the head of the Association added.

The Chairman of PSRC Robert Nazarian said that the commission has been working with its American colleagues for 13 years, and similar documents on cooperation have been signed with Washington, Pennsylvania and Kentucky.

“These agreements have been of great help to PSRC in effectively addressing the emerging issues. We study, analyze and apply the experience of the United States,” said Nazarian.

Highlighting the effectiveness of previous cooperation with US regulators, the chairman of the commission expressed confidence that further partnerships will be lengthy.