"Electric Networks of Armenia" CJSC transitions from crisis management to sustainable development: CEO
06.08.2026,
10:59
"Electric Networks of Armenia" CJSC will transition from crisis management to a large-scale sustainable development process as of August 3, announced Romanos Petrosyan, the company's interim CEO, summing up the results of an extended working meeting.
YEREVAN, August 6. /ARKA/. "Electric Networks of Armenia" CJSC will transition from crisis management to a large-scale sustainable development process as of August 3, announced Romanos Petrosyan, the company's interim CEO, summing up the results of an extended working meeting.
The meeting, chaired by Petrosyan, was attended by deputy general directors, branch directors, the management of the Yerevan Electricity Supply and Maintenance Department, and heads of operational districts.
At the beginning of the discussion, Petrosyan announced that public hearings had been held several days earlier at the Ministry of Territorial Administration and Infrastructure of Armenia.
According to him, in the coming weeks, the government will recognize the action regarding 100% of the shares of "Electric Networks of Armenia" CJSC as being in the public interest. Their market value will then be assessed in accordance with established procedures, the owners will be officially notified and compensated, after which the company will be registered as wholly state-owned.
On Current Work
At the meeting, it was noted that the average duration of scheduled maintenance in the distribution network has decreased, but problems with the efficiency of the work and its oversight remain.
Petrosyan stated that all inspectors must be available to citizens around the clock and respond promptly to outages, ensuring uninterrupted power supply to subscribers and adequate information about scheduled and emergency maintenance.
According to him, emergency restoration work should provide not temporary, but permanent and effective solutions that prevent the possible recurrence of outages.
On New Subscribers
Meeting participants also discussed the significant number of applications for new subscribers to be connected to the distribution network. The company attributes this, in part, to a reduction in the cost of connecting new subscribers by up to 40% at the end of April.
Over the past two months, approximately 2,500 new subscribers have been connected to the distribution network, an increase of approximately 35% compared to the same period last year.
Connection work for new subscribers is being carried out in several ways: through contractors, the company's own resources, and through recently signed contracts.
About Electric Networks of Armenia
Electric Networks of Armenia CJSC manages the medium and low-voltage distribution networks in Armenia, serving approximately 1 million subscribers. Since 2016, ENA's owner, Tashir Group, has invested approximately $680 million in the company's modernization alone, with an additional $150-200 million invested in the creation of new capacity.
Tashir Group President Samvel Karapetyan was arrested on June 18, 2025, and initially charged with publicly calling for the seizure of power after making a statement in support of the Armenian Apostolic Church. During the investigation, he was also charged with tax evasion, embezzlement, money laundering, and illegal entrepreneurship. Karapetyan denies guilt, and his defense claims the prosecution is politically motivated.
On the Status of ENA
On July 3, 2025, the Armenian parliament adopted legislative amendments allowing the state to intervene in the management of Electric Networks of Armenia CJSC, which was previously controlled by the Tashir Group.
Romanos Petrosyan has been acting as ENA's manager since July 18, 2025.
On April 9, 2026, Armenian Prime Minister Nikol Pashinyan announced that ENA had already been de facto nationalized, and that this status would be formalized legally in the future.
On June 22, 2026, a draft government resolution recognizing the public interest in 100% of the shares of Electric Networks of Armenia CJSC (ENA) was published on the legal information portal.
The meeting, chaired by Petrosyan, was attended by deputy general directors, branch directors, the management of the Yerevan Electricity Supply and Maintenance Department, and heads of operational districts.
At the beginning of the discussion, Petrosyan announced that public hearings had been held several days earlier at the Ministry of Territorial Administration and Infrastructure of Armenia.
According to him, in the coming weeks, the government will recognize the action regarding 100% of the shares of "Electric Networks of Armenia" CJSC as being in the public interest. Their market value will then be assessed in accordance with established procedures, the owners will be officially notified and compensated, after which the company will be registered as wholly state-owned.
On Current Work
At the meeting, it was noted that the average duration of scheduled maintenance in the distribution network has decreased, but problems with the efficiency of the work and its oversight remain.
Petrosyan stated that all inspectors must be available to citizens around the clock and respond promptly to outages, ensuring uninterrupted power supply to subscribers and adequate information about scheduled and emergency maintenance.
According to him, emergency restoration work should provide not temporary, but permanent and effective solutions that prevent the possible recurrence of outages.
On New Subscribers
Meeting participants also discussed the significant number of applications for new subscribers to be connected to the distribution network. The company attributes this, in part, to a reduction in the cost of connecting new subscribers by up to 40% at the end of April.
Over the past two months, approximately 2,500 new subscribers have been connected to the distribution network, an increase of approximately 35% compared to the same period last year.
Connection work for new subscribers is being carried out in several ways: through contractors, the company's own resources, and through recently signed contracts.
About Electric Networks of Armenia
Electric Networks of Armenia CJSC manages the medium and low-voltage distribution networks in Armenia, serving approximately 1 million subscribers. Since 2016, ENA's owner, Tashir Group, has invested approximately $680 million in the company's modernization alone, with an additional $150-200 million invested in the creation of new capacity.
Tashir Group President Samvel Karapetyan was arrested on June 18, 2025, and initially charged with publicly calling for the seizure of power after making a statement in support of the Armenian Apostolic Church. During the investigation, he was also charged with tax evasion, embezzlement, money laundering, and illegal entrepreneurship. Karapetyan denies guilt, and his defense claims the prosecution is politically motivated.
On the Status of ENA
On July 3, 2025, the Armenian parliament adopted legislative amendments allowing the state to intervene in the management of Electric Networks of Armenia CJSC, which was previously controlled by the Tashir Group.
Romanos Petrosyan has been acting as ENA's manager since July 18, 2025.
On April 9, 2026, Armenian Prime Minister Nikol Pashinyan announced that ENA had already been de facto nationalized, and that this status would be formalized legally in the future.
On June 22, 2026, a draft government resolution recognizing the public interest in 100% of the shares of Electric Networks of Armenia CJSC (ENA) was published on the legal information portal.
