"Electric Networks of Armenia" should be state-owned – Prime Minister
04.12.2025,
15:25
The Republic of Armenia should be the owner of the Electric Networks of Armenia (ENA), stated RA Prime Minister Nikol Pashinyan.
YEREVAN, December 4. /ARKA/. The Republic of Armenia should be the owner of the Electric Networks of Armenia (ENA), stated RA Prime Minister Nikol Pashinyan.
"There are two options regarding the future management of ENA. Option one: ENA becomes state-owned and transferred to a trust. Option two: ENA privatization by a reputable international company with management experience in this sector," Pashinyan noted at a briefing on Thursday.
The Prime Minister emphasized that he considers the first option preferable, but since the first option also requires payments, much now depends on the objective price determined for ENA.
"If this price proves acceptable for the state budget, I would prefer ENA to be fully state-owned and transferred to a professional, certified company for trust management," Pashinyan said.
On November 17, Armenia's Public Services Regulatory Commission (PSRC) approved the revocation of ENA (owned by Russia-based businessman Samvel Karapetyan's Tashir Group)'s electricity distribution license.
The Commission cited violations discovered during the four-month investigation as the basis for this revocation, including falsifications, deficiencies, and other falsifications of electricity meter readings, violations in the implementation of investment programs, violations of deadlines and procedures for connecting new subscribers, and violations of building and fire safety regulations during the construction and renovation of certain facilities.
The Commission claims that ENA provided risky credit guarantees through commercial banks to a number of companies affiliated with it. Alo, it ineffectively managed property, real estate, and cash.
"There are two options regarding the future management of ENA. Option one: ENA becomes state-owned and transferred to a trust. Option two: ENA privatization by a reputable international company with management experience in this sector," Pashinyan noted at a briefing on Thursday.
The Prime Minister emphasized that he considers the first option preferable, but since the first option also requires payments, much now depends on the objective price determined for ENA.
"If this price proves acceptable for the state budget, I would prefer ENA to be fully state-owned and transferred to a professional, certified company for trust management," Pashinyan said.
On November 17, Armenia's Public Services Regulatory Commission (PSRC) approved the revocation of ENA (owned by Russia-based businessman Samvel Karapetyan's Tashir Group)'s electricity distribution license.
The Commission cited violations discovered during the four-month investigation as the basis for this revocation, including falsifications, deficiencies, and other falsifications of electricity meter readings, violations in the implementation of investment programs, violations of deadlines and procedures for connecting new subscribers, and violations of building and fire safety regulations during the construction and renovation of certain facilities.
The Commission claims that ENA provided risky credit guarantees through commercial banks to a number of companies affiliated with it. Alo, it ineffectively managed property, real estate, and cash.
According to Mesrop Mesropyan, head of the PSRC, the state will now negotiate with the owner or the ENA Board of Directors the transfer of ownership rights to the property.
"If the parties fail to reach an agreement within three months, the state may take over the property based on its priority interest," Mesropyan noted.
