Armenian authorities will make a key decision on ENA in mid-July - Governor
29.06.2026,
18:35
The Armenian government will make a decision in mid-July on recognizing the public interest in the Electric Networks of Armenia (ENA), said ENA Acting Governor Romanos Petrosyan.
YEREVAN, June 29. /ARKA/. The Armenian government will make a decision in mid-July on recognizing the public interest in the Electric Networks of Armenia (ENA), said ENA Acting Governor Romanos Petrosyan.
"The company's nationalization process is progressing quite rapidly. In mid-July, the government will make a decision on recognizing ENA as a public interest priority. After that, a market valuation will be performed and compensation will be provided," Petrosyan said.
Commenting on the announcement of frequent power outages, he stated that ENA continues to service the distribution networks under difficult conditions, while simultaneously working to implement investment programs and improve the state of the power system.
Petrosyan emphasized that the question of who will carry out the necessary investments—the state or the private sector—will become clear after the process is completed.
"If it is transferred to private ownership, it will be done by a private company; if it is nationalized, it will be done by the state. It is possible that Electric Networks of Armenia will be transferred to concession management, in which case the concessionaire will make the investments," he said.
The draft resolution of the Armenian government recognizing the public interest in 100% of ENA shares has already been published on the legal information portal. According to the document, increased state control over electricity distribution is justified by the need to protect consumer rights, energy security, and service continuity.
Earlier, on April 9, 2026, Armenian Prime Minister Nikol Pashinyan stated that Electric Networks of Armenia had already been de facto nationalized, and that this status would subsequently be formalized legally.
Several media outlets reported that the state's acquisition of ENA could be valued at approximately $380,000. This amount is significantly lower than the investment Tashir Group has made in the energy company since 2016 – approximately $900 million. According to unconfirmed reports, the deal fell through due to the owner's disagreement.
Revocation of ENA's License
On November 17, 2025, the Public Services Regulatory Commission (PSRC) of Armenia revoked ENA, a company owned by businessman Samvel Karapetyan, its electricity distribution license. The commission based its decision on violations identified during a four-month administrative proceeding, including violations related to electricity meter readings, investment programs, the connection of new subscribers, as well as construction and fire safety regulations.
The PSRC disagreed with the regulator's findings and questioned the results of the inspections and assessments. The company that owns ESA, Tashir Capital, which is part of the Tashir Group, attempted to challenge the PSRC's decision in court, but the claim was dismissed.
"The company's nationalization process is progressing quite rapidly. In mid-July, the government will make a decision on recognizing ENA as a public interest priority. After that, a market valuation will be performed and compensation will be provided," Petrosyan said.
Commenting on the announcement of frequent power outages, he stated that ENA continues to service the distribution networks under difficult conditions, while simultaneously working to implement investment programs and improve the state of the power system.
Petrosyan emphasized that the question of who will carry out the necessary investments—the state or the private sector—will become clear after the process is completed.
"If it is transferred to private ownership, it will be done by a private company; if it is nationalized, it will be done by the state. It is possible that Electric Networks of Armenia will be transferred to concession management, in which case the concessionaire will make the investments," he said.
The draft resolution of the Armenian government recognizing the public interest in 100% of ENA shares has already been published on the legal information portal. According to the document, increased state control over electricity distribution is justified by the need to protect consumer rights, energy security, and service continuity.
Earlier, on April 9, 2026, Armenian Prime Minister Nikol Pashinyan stated that Electric Networks of Armenia had already been de facto nationalized, and that this status would subsequently be formalized legally.
Several media outlets reported that the state's acquisition of ENA could be valued at approximately $380,000. This amount is significantly lower than the investment Tashir Group has made in the energy company since 2016 – approximately $900 million. According to unconfirmed reports, the deal fell through due to the owner's disagreement.
Revocation of ENA's License
On November 17, 2025, the Public Services Regulatory Commission (PSRC) of Armenia revoked ENA, a company owned by businessman Samvel Karapetyan, its electricity distribution license. The commission based its decision on violations identified during a four-month administrative proceeding, including violations related to electricity meter readings, investment programs, the connection of new subscribers, as well as construction and fire safety regulations.
The PSRC disagreed with the regulator's findings and questioned the results of the inspections and assessments. The company that owns ESA, Tashir Capital, which is part of the Tashir Group, attempted to challenge the PSRC's decision in court, but the claim was dismissed.
