Pashinyan: The process of assessing the market value of ENA is underway
30.01.2026,
11:04
Prime Minister Nikol Pashinyan announced that the process of assessing the market value of Electric Networks of Armenia (ENA) is currently underway.
YEREVAN, January 30. /ARKA/. Prime Minister Nikol Pashinyan announced that the process of assessing the market value of Electric Networks of Armenia (ENA) is currently underway.
On November 17, 2025, the Public Services Regulatory Commission revoked ENA's license to distribute electricity, setting a three-month deadline (until February 17, 2026) for the government to negotiate with the company's owner regarding its future status (state buyout (nationalization) or transfer to management with state participation).
"If ENA's market value is affordable for the state budget, we will fully nationalize it and transfer it to the trust management of a highly professional international company or group of companies," Pashinyan noted at a briefing on Thursday.
According to him, various assumptions have been made about ENA's financial condition, including that the company's market value may be low and its acquisition would require a relatively small sum.
"Currently, there is no documented figure of this size. Discussions are ongoing, but I cannot say anything concrete at this stage," the Prime Minister noted.
Pashinyan emphasized that there is no reason to rush. "Currently, ENA, at least de facto, belongs to the Republic of Armenia. The company's operational efficiency, tax discipline, and transparency have significantly improved," Pashinyan said.
The Prime Minister also noted that ENA has become more open to partnerships with a wider range of companies.
"Previously, the company's tenders were primarily attended by entities affiliated with the previous management. Corruption mechanisms related to money laundering have been uncovered, and criminal cases have been initiated," Pashinyan added.
On November 17, 2025, the Public Services Regulatory Commission revoked ENA's license to distribute electricity, setting a three-month deadline (until February 17, 2026) for the government to negotiate with the company's owner regarding its future status (state buyout (nationalization) or transfer to management with state participation).
"If ENA's market value is affordable for the state budget, we will fully nationalize it and transfer it to the trust management of a highly professional international company or group of companies," Pashinyan noted at a briefing on Thursday.
According to him, various assumptions have been made about ENA's financial condition, including that the company's market value may be low and its acquisition would require a relatively small sum.
"Currently, there is no documented figure of this size. Discussions are ongoing, but I cannot say anything concrete at this stage," the Prime Minister noted.
Pashinyan emphasized that there is no reason to rush. "Currently, ENA, at least de facto, belongs to the Republic of Armenia. The company's operational efficiency, tax discipline, and transparency have significantly improved," Pashinyan said.
The Prime Minister also noted that ENA has become more open to partnerships with a wider range of companies.
"Previously, the company's tenders were primarily attended by entities affiliated with the previous management. Corruption mechanisms related to money laundering have been uncovered, and criminal cases have been initiated," Pashinyan added.