| TBILISI, June 10
TBILISI, June 10 Russian energy firm InterRAO
has begun arbitration proceedings in Stockholm against
Georgia over electricity tariffs, Georgia's deputy energy
"We have now received a notification from the arbitration
court and (are) ready to defend our position there," Mariam
Valishvili told Reuters.
InterRAO confirmed that it had started judicial proceedings.
"InterRAO Group confirms that its two Dutch subsidiaries
have filed two lawsuits against the Georgian government with the
International Court of Arbitration," the company's press
InterRAO wants to raise its electricity tariffs as well as
seek compensation for losses stemming from Georgia's currency
devaluation, Valishvili said.
InterRAO did not specify how much it was seeking in
compensation but a source close to the company told Reuters that
it was $125 million as of May 1.
The company bought two hydro-power plants in Georgia in
2011. The Khrami-1 and Khrami-2- plants have a capacity of 227
InterRAO also owns a 75.11 percent stake in electricity
distribution company Telasi, which serves the capital Tbilisi.
It holds its assets in Georgia through its Dutch
Valishvili said that the government had offered to go to
Georgia's state regulatory commission to find a solution over
InterRAO's tariffs for electricity from its two plants.
"Correction of these tariffs may be done, if the commission
makes such a decision," Valishvili said.
She said that a lawsuit on Telasi was more complicated.
"InterRAO did not make any investment in Telasi and even got
bigger dividends than expected. Why should we pay compensation?"
she said. "Our position is strong and I'm confident that we can
prove it in court."
(Additional reporting by Anastasia Lyrchikova in MOSCOW;
Editing by Katya Golubkova)