Pashinyan Allows Nationalization of "Electric Networks of Armenia"
YEREVAN, November 6. /ARKA/. Armenian Prime Minister Nikol Pashinyan has not ruled out the nationalization of “Electric Networks of Armenia” CJSC, urging the public to wait for the decision of the Public Services Regulatory Commission (PSRC) on the results of administrative proceedings against the company.
“We need to wait for the PSRC’s decision, after which we will formulate our approach. In my speech at the Civil Contract Party congress, I outlined two scenarios, and they remain in effect. Our decision will have a specific content that will either make these scenarios possible or impossible to implement,” Pashinyan said at a briefing on Thursday, responding to a question about whether the government plans to acquire ENA from its current owners.
According to him, the next steps will depend on the price, which must be determined based on a comprehensive analysis.
“If the price is reasonable, then, as I have already said, the government will seriously consider the possibility of purchasing ENA. If the price is too high and it becomes clear that we cannot make this purchase using state budget funds, we will move on to the second scenario,” the prime minister said.
He recalled that the second scenario involves privatizing ENA and transferring its management to a reputable international specialized company, while the government would retain a certain degree of participation — both through legislative regulation and by holding a share of the company’s stock (this aspect will still be discussed).
The Electric Networks of Armenia CJSC manages medium and low-voltage distribution networks in Armenia, serving approximately 1 million subscribers.
Tashir Group (the owne of ENA) President Samvel Karapetyan has been in custody since June 18, 2025. By decision of the Anti-Corruption Court, his detention has been extended until November 17. He is accused of "public calls for the seizure of power" and large-scale tax evasion and money laundering.
Armenian Prime Minister Nikol Pashinyan announced his intention to nationalize ENA, asserting that the process would be carried out in accordance with Armenian law. On July 18, the Chairman of the Public Services Regulatory Commission initiated administrative proceedings against ENA and appointed Romanos Petrosyan as the company's interim manager.
Samvel Karapetyan's legal team had filed a lawsuit with the Stockholm Arbitration Court challenging the decision to nationalize ENA. On July 22, it was announced that the urgent arbitration court ordered the Armenian government to "refrain from further steps aimed at the expropriation of ENA."
In response, the Armenian government stated that the appointment of an interim manager for ENA does not contradict the Stockholm Arbitration Court ruling and is aimed at identifying violations in the company's operations.-0-
