ENA interim administrator vague on possible electricity price changes
YEREVAN, July 21. /ARKA/. Romanos Petrosyan, state-appointed interim administrator of Electric Networks of Armenia (ENA) power distribution company, found it difficult to predict how electricity prices in the country might change.
“I cannot guarantee which direction electricity prices will take. They and all related processes will be carried out in accordance with the letter of the law. Changes will be based solely on objective, real, and legal indicators that will be visible in ENA's activities,” Petrosyan told reporters on Monday outside the ENA building.
He noted that the issue of changing electricity prices is exclusively within the purview of the Public Services Regulatory Commission (PSRC). At the same time, Petrosyan said that as an interim administrator, he will raise all the factors, all the objective expenses, costs, capitalization, depreciation, and so on, within the framework of the proceedings initiated by the regulator.
“Taking into account the objective reality at ENA, based on all this, the regulatory authority will make decisions and publish them,” Petrosyan said.
He also said that an audit will be conducted at ENA and stated that he plans to meet with the head of the ENA Board of Directors, Narek Karapetyan.
The Electric Networks of Armenia is part of the Tashir Group of Companies, owned and managed by Russia-based billionaire Samvel Karapetyan. It operates medium and low voltage distribution networks in Armenia, serving about 1 million subscribers.
Since 2016, the Tashir Group is said to have invested about $680 million in the modernization of Electric Networks of Armenia alone, with another $150-200 million invested in the creation of new capacities.
Samvel Karapetyan was arrested in Armenia on June 18 on charges of publicly calling for the seizure of power after a meeting with Catholicos of All Armenians Garegin II.
Armenian Prime Minister Nikol Pashinyan then announced shortly afterwards a plan to nationalize ENA, stating that the process would be carried out in accordance with legislation.
On July 3, 2025, the Armenian parliament adopted government-initiated amendments to certain laws allowing the facility's nationalization.-0-
