ENA could return to private hands after nationalization

PanARMENIAN.Net - Head of the Audit Chamber Romanos Petrosyan stated that he has long considered the nationalization of the Electric Networks of Armenia (ENA) necessary, viewing it as an entity that should be state-run or at least partially state-controlled.

He did not rule out the possibility that ENA, once nationalized, might later be handed over to a private entity, according to Auroranews.am .

“I rule nothing out. Nothing is decided yet. The state might manage it itself, keep a share, or transfer it to a private entity,” he noted.

He emphasized that all processes will be carried out in accordance with the law.

“If the legal process involves compensating the business, then compensation will be made. Everything will follow legal procedures. I guarantee the law will not be breached,” Petrosyan said.

Prime Minister Nikol Pashinyan previously stated that a plan for ENA’s nationalization is ready. He had earlier said that a nationalization bill was already under parliamentary discussion. Pashinyan added that “in this case, the church is just a smokescreen for ENA’s soon-to-be former owners. Through its operations, HEC has nearly triggered an energy crisis.”

On June 18, the Public Services Regulatory Commission fined the Electric Networks of Armenia 10 million dram.