Civilnet
By Elen Muradyan
Armenia is currently assessing the market value of its national electricity distribution company as the government weighs options for possible nationalization, Prime Minister Nikol Pashinyan said on Thursday.
“If that value is affordable for the state budget, we will fully nationalize it and place it under accredited management by a highly professional company or group of companies,” Pashinyan said.
The prime minister added that the government also keeps leading international energy companies informed about the process. He said that there was no urgency, noting that ENA “de facto belongs to Armenia at this moment.”
Pashinyan has previously outlined two possible scenarios for nationalization: full state ownership with professional management, or transferring a majority stake to a reputable international energy operator.
In November, Armenia’s Public Services Regulatory Commission suspended ENA’s operating license, which had been held by Tashir Capital. Romanos Petrosyan, the company’s government-appointed interim manager, said at the time that several major Western energy firms had expressed interest in managing Armenia’s electricity distribution network.
Petrosyan also said ENA would operate under interim executive management for up to three months until a new license is issued.
Tensions between the Armenian government and ENA’s owner, businessman Samvel Karapetyan, escalated in June after Karapetyan criticized the authorities over what he described as a campaign against the Armenian Apostolic Church. The following day, a Yerevan court ordered Karapetyan’s arrest on charges of making calls to seize power in the country. Those were followed by accusations of money laundering.
Shortly after the arrest, Pashinyan announced plans to nationalize ENA. Armenia’s parliament approved legislation to bring the company under state ownership in July, and the regulator later launched administrative proceedings into possible legal violations by the company.
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