PSRC head assesses likelihood of electricity price increase in Armenia

YEREVAN, November 17. /ARКА/. Mesrop Mesropyan, the Chairman of Armenia's Public Services Regulatory Commission (PSRC), addressed the potential for an increase in electricity prices following the regulator's revocation today of the license held by the national power distribution company, Electric Networks of Armenia (ENA).

"What is occurring at this moment is unprecedented in the 34 years of our nation's independent history. To assert that we can avoid taking risks along this path is, at the very least, opportunistic," he remarked during a press briefing, assuring that he would do everything within his power to "prevent turbulence in the country."

Mesropyan highlighted that while an increase in electricity prices is a possibility, "I view this probability as a manageable risk."

He further stated that the state will now engage in negotiations with the owner of ENA (the Russia-based Tashir Group) or its Board of Directors regarding the transfer of ownership rights.

"Should the parties be unable to reach an agreement within three months, the state may, in accordance with its priority interest, seize the rights to this property," Mesropyan indicated.

Previously, Armenian Prime Minister Nikol Pashinyan proposed the option of nationalizing ENA or selling it to "a reputable international specialized company, while maintaining the government's stake."

He mentioned that the decision will hinge on the price, which must be established through a thorough analysis.-0-