Armenian government intends to recognize the public interest in 100% of the shares of Electric Networks of Armenia (ENA) - draft
23.06.2026,
13:13
A draft decision by the Armenian government recognizing the public interest in 100% of the shares of Electric Networks of Armenia (ENA) CJSC has been published on the legal information portal.
YEREVAN, June 23. /ARKA/. A draft decision by the Armenian government recognizing the public interest in 100% of the shares of Electric Networks of Armenia (ENA) CJSC has been published on the legal information portal.
According to the draft's rationale, authored by the relevant Ministry of Territorial Administration and Infrastructure Activities of the Republic of Armenia, electricity distribution networks are strategic infrastructure, the disruption of which could lead to large-scale social, economic, and security-related consequences.
The document notes that ENA distributes electricity throughout Armenia, supporting the population, hospitals, schools, water supply systems, communications, and the economy.
The draft's authors point out that ENA's activities are not ordinary private activities, but rather represent the management of public infrastructure subject to strict state control.
The justification also states that the Public Services Regulatory Commission's initiation of the process to terminate ENA's license demonstrates that the state has assessed potential violations as potentially affecting the interests of hundreds of thousands of subscribers.
"Electricity supply cannot be interrupted even in the event of a management crisis. Therefore, the state is obliged to prioritize the uninterrupted operation of the system, regardless of the status of the private company or a change in ownership," the draft states.
According to the document, strengthening state control over electricity distribution is justified by the need to protect consumer rights, energy security, and service continuity.
Earlier, on April 9, 2026, Armenian Prime Minister Nikol Pashinyan stated that ENA had already been de facto nationalized, and that this status would subsequently be formalized legally.
Several media outlets reported a possible valuation of the state acquisition of ENA at approximately $380,000. This amount is significantly lower than the investment volume invested by Tashir Group in the energy company since 2016—approximately $900 million. According to unconfirmed reports, the deal fell through due to the owner's disagreement.
According to the draft's rationale, authored by the relevant Ministry of Territorial Administration and Infrastructure Activities of the Republic of Armenia, electricity distribution networks are strategic infrastructure, the disruption of which could lead to large-scale social, economic, and security-related consequences.
The document notes that ENA distributes electricity throughout Armenia, supporting the population, hospitals, schools, water supply systems, communications, and the economy.
The draft's authors point out that ENA's activities are not ordinary private activities, but rather represent the management of public infrastructure subject to strict state control.
The justification also states that the Public Services Regulatory Commission's initiation of the process to terminate ENA's license demonstrates that the state has assessed potential violations as potentially affecting the interests of hundreds of thousands of subscribers.
"Electricity supply cannot be interrupted even in the event of a management crisis. Therefore, the state is obliged to prioritize the uninterrupted operation of the system, regardless of the status of the private company or a change in ownership," the draft states.
According to the document, strengthening state control over electricity distribution is justified by the need to protect consumer rights, energy security, and service continuity.
Earlier, on April 9, 2026, Armenian Prime Minister Nikol Pashinyan stated that ENA had already been de facto nationalized, and that this status would subsequently be formalized legally.
Several media outlets reported a possible valuation of the state acquisition of ENA at approximately $380,000. This amount is significantly lower than the investment volume invested by Tashir Group in the energy company since 2016—approximately $900 million. According to unconfirmed reports, the deal fell through due to the owner's disagreement.
