Iran's deputy energy minister, Houshang Falahatian, and Iraq's deputy minister of electricity Adel Hamid Mahdi stipulated the new conditions of electricity exports to Iraq, according to an IRNA report.
"Following the end of the previous 2-year electricity exports contract, the two countries discussed the terms and conditions of a new contract and are close to reaching an agreement," said Falahatian in a meeting with his Iraqi counterpart.
Iran exports 12 billion kilowatt hours of electricity to the neighboring countries each year, mainly to Iraq. Its annual electricity imports amount to 4 billion kilowatt hours.
The new contract could increase the electricity exports to Iraq by 1500 megawatts.
According to Hamid Mahdi, Iraq's electricity imports from Iran have increased from 150 megawatts in 2005 to 1500 megawatts.
He stated that the electricity grids of the two countries will be synchronized in the near future and Iran will provide Iraq with electricity equipments as well.
