New electricity grid chief denies political motive behind takeover

By Siranush Adamyan

Romanos Petrosyan, the newly appointed caretaker administrator of the Electricity Networks of Armenia (ENA), dismissed concerns that the government’s seizure of the power distribution company was politically driven, calling it a matter of regulatory compliance.

Speaking outside ENA headquarters Monday morning, Petrosyan told reporters that his appointment followed standard procedures laid out in the utility’s license. “This is the fulfillment of licensing requirements, nothing extraordinary,” he said, in response to questions about whether the takeover was linked to political events surrounding ENA’s owner, billionaire businessman Samvel Karapetyan, who is now in jail pending trial on charges of public calls to seize power in the country.

Petrosyan said the process had begun well before recent developments. “It started nearly a year ago with parliamentary hearings, which led to the dismissal of two senior officials in the energy sector,” he noted, referring to the October 2024 departures of the deputy minister for energy and the chair of the Public Services Regulatory Commission (PSRC).

Asked whether electricity prices would remain stable during his tenure, Petrosyan said he could not make such promises.

The interim manager also took aim at ENA’s acting CEO Davit Ghazinyan, stating that he “has no standing to remain” and was among those responsible for the current state of the utility. Ghazinyan has disputed the government’s actions and warned they could damage Armenia’s investment climate.

Petrosyan’s comments come amid growing controversy over the nationalization process at ENA. Petrosyan sits on the ruling Civil Contract party’s board and has previously served as Minister of Environment and governor of Kotayk province.

The move followed the June 17 arrest of Karapetyan, who had publicly expressed support for the Armenian Church and Catholicos Garegin II amid a high-profile feud with the Pashinyan administration and promised to intervene. Hours after Karapetyan’s detention, the prime minister vowed to nationalize ENA, and within days, parliament passed legal amendments enabling the state to seize control of the company.

Opposition parties have since then petitioned Armenia’s Constitutional Court to overturn the legislation, arguing it violates due process and the Constitution. Critics say the law is tailored to target Karapetyan’s Cyprus-registered holding company and warn that the nationalization could trigger costly international arbitration and long-term harm to investor confidence.