Former head of Electric Networks of Armenia is confident that the company's license will be revoked "due to a political order"
YEREVAN, October 29. /ARKA/. David Ghazinyan, the former acting director general of Electric Networks of Armenia (ENA) CJSC, believes that the company's license will be revoked as a result of a political directive.
The previous day, Mesrop Mesropyan, the Chairman of the Public Services Regulatory Commission (PSRC), declared that the administrative proceedings against ENA are expected to conclude by November 18. The investigation into ENA's operations is being overseen by Romanos Petrosyan, the interim manager of ENA, who was appointed by the head of the PSRC on July 18, 2025.
"Should a decision be made to revoke ENA's license, the energy law stipulates that the state must present the owner with an offer to repurchase the company at market value plus 15% within a three-month period. This could total several hundred million dollars," Ghazinyan remarked during a press briefing.
He further noted that if external financing is utilized for this purpose, "we (the citizens of Armenia – ed.) will all bear the cost."
"Until this process reaches completion, electricity distribution will be overseen by an interim manager, who will be appointed (or reappointed) by the head of the PSRC... I firmly believe that ENA will lose its license due to a political order, and I am certain that this decision will not even be drafted by the PSRC. The members of the PSRC will receive a pre-prepared decision, which they will adopt obediently," Ghazinyan asserted.
Tashir Group President Samvel Karapetyan, who is also the owner of ENA, has been in custody since June 18, 2025. The Anti-Corruption Court has decided to extend his detention until November 17.
He faces accusations of making "public calls for the seizure of power" following a meeting with Catholicos of All Armenians Garegin II, during which he expressed his unwavering support for the Armenian Church and the Armenian people, stating that if politicians failed, "we are ready to participate in all of this in our own way." Additionally, he has been charged with large-scale tax evasion and money laundering.
Armenian Prime Minister Nikol Pashinyan announced a nationalization plan for ENA, emphasizing that the process will adhere to Armenian law. Amendments to the laws On Energy and On the Public Services Regulation Commission were adopted on July 3 and subsequently signed by the President on July 8.
About ENA
Electric Networks of Armenia CJSC is responsible for managing medium and low-voltage distribution networks across Armenia, catering to approximately 1 million customers. Tashir Group claims to have invested around $680 million in the modernization of the company, in addition to $150-200 million allocated for the development of new capacity.-0-
