Electric Networks of Armenia deprived of its license
The Public Services Regulatory Commission (PSRC) decided at its session on November 17 to terminate the license of the “Electric Networks of Armenia” (ENA) company. This decision was a continuation of discussions that had been ongoing at the PSRC for several days.
The government is considering two possible scenarios for the future of ENA: the nationalization of the company or its privatization with the direct participation of the government. The process was also directly linked to the statements made by ENA owner Samvel Karapetyan regarding his support for the church, following which he was arrested. The “Tashir” Group of Companies issued a denial, evaluating the situation as political persecution.
PSRC Chairman Mesrop Mesropyan noted during the session that the state will begin negotiations with the owner or the ENA Board of Directors regarding the transfer of property ownership rights within the next 3 months. If the parties fail to reach an agreement, the state may seize the ownership rights under the right of eminent domain (or public interest).