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11/12/2015 Rustavi Water Company has lodged complaint against GNERC today
Rustavi Water Company has appealed to the court today against the GNERC decision. RWC seeks legal redress against the resolution of GNERC about reducing water supply tariff for the customers of Rustavi, Gardabani and Marneuli regions.
Chief legal officer of RWC filed the lawsuit to the Tbilisi City Court at 13.00 today. According to Besik Koberidze the company appeals against the resolution of GNERC #31 dated 26 November, 2015. “ New tariffs has been set for RWC. We believe that GNERC has set incorrect tariff having used imperfect methodology. Based on the aforesaid we challenge the resolution of GNERC. We have appealed against the similar resolutions related to the tariffs of Tbilisi and Mtskheta Water companies -” points out Besik Koberidze.
According to the Company’s management no well-grounded and documented reconciliation of the standpoints has been managed with GNERC. Consequently by decreasing tariffs by 20 % GNERC deteriorated financial status of the Company. As RWC has become unprofitable business, the Company’s management is forced to move to crisis mode and start significant reduction of the expenses, which leads not only to the suspension of development, but to the rejection of necessary projects related to the provision of proper services to the customers. The Company will necessarily be faced by the liquidity problem very soon, which will interfere with the settlement with the creditors in a timely manner. Taking into consideration the above the management of RWC considers, that the Regulator’s counterarguments are invalid and the court is supposed to make the final decision.
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