Armenian parliament adopts legislative amendments allowing nationalization of Electric Networks CJSC
YEREVAN, July 3. /ARKA/. The National Assembly of the Republic of Armenia adopted in the second and final reading legislative amendments to the ArmenianLaws "On the Public Services Regulatory Authority" and "On Energy", allowing nationalization of Electric Networks of Armenia CJSC
65 deputies voted for the amendments, 27 voted against. There were no abstentions.
According to the draft, if there are appropriate grounds, the chairman of the Public Services Regulatory Commission may initiate proceedings and apply preventive measures.
About the draft law
Amendments to the laws "On Energy" and "On the Public Services Regulatory Authority" provide for the initiation of administrative proceedings by the Public Services Regulatory Commission of Armenia against the operator in the energy sector.
It is envisaged to oblige the authorized government body to send a message in case of special risk of licensees' activities in this area and to determine the consequences of such a message; to determine the possibilities of applying preventive measures when initiating proceedings against licensees in the energy sector; to establish the procedure and features of applying preventive measures.
On the situation with the owner of ENA
The owner of ENA, the president of "Tashir Group" Samvel Karapetyan was arrested in Armenia on June 19 on charges of publicly calling for the seizure of power. This happened after Karapetyan, after a meeting with Catholicos of All Armenians Garegin II, stated that he had always been on the side of the Armenian Church and the Armenian people, and if politicians do not succeed, then "we are ready to participate in all this in our own way."
Later, Armenian Prime Minister Nikol Pashinyan announced the readiness of the plan for the nationalization of "ENA", claiming that the process will be carried out in accordance with the legislation of the Republic of Armenia.
About "Electrical Networks ofArmenia"
"Electrical Networks of Armenia" CJSC is part of the "Tashir" group of companies, which is owned by entrepreneur and philanthropist Samvel Karapetyan. ENA manages medium and low voltage distribution networks in Armenia, serving about 1 million subscribers.
Since 2016, Tashir Group has invested about $680 million in the modernization of "Electrical Networks of Armenia" alone, and another $150-200 million was invested in the creation of new capacities. By 2034, it is planned to increase the total volume of ENA investments in the energy system of Armenia to 540 billion drams.
