Public Services Regulatory Commission (PSRC) publishes draft decision to revoke the license of ENA
According to the draft, the company has "repeatedly failed to comply or has improperly complied" with the stipulations of the RA Law "On Energy" and the PSRC, which poses a risk to the safety and reliability of the energy system, its components, and the rights and legitimate interests of consumers.
It has been reported that, following a decision by the PSRC chairman, administrative proceedings were initiated against the company on July 18, 2025, to investigate the aforementioned potential violations.
Previously, on November 6, Armenian Prime Minister Nikol Pashinyan indicated the possibility of either nationalizing ENA or selling it to "an international, reputable specialized company, while maintaining the government's stake."
He noted that the decision regarding ENA would be contingent upon the price, which would be established through a thorough analysis.
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-
