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PM: No issue of nationalizing Armenia electricity company

01 July 2015 20:04 (UTC +04:00)

Prime Minister Hovik Abrahamyan told reporters that when they decide on this matter, they will inform about it.

As for a possible nationalization of the Electric Networks of Armenia (ENA) company, the PM noted that they have no such matter.

And to the query on whether ENA Executive Director Yevgeny Bibin would be brought to account if it turns out that he permitted misuse, Abrahamyan responded: “Absolutely.”

Despite numerous protests, the Public Services Regulatory Commission recently increased the price of electricity in Armenia by 6.93 drams—instead of 17 drams, proposed by the Electric Networks of Armenia (ENA) company—, per cubic meter, and this decision will take effect on August 1. But the decision is expected to be followed by an increase in the prices of numerous products and services in the country.

President Sargsyan, however, stated that the government will cover this price hike until an audit is conducted at the ENA, which supplies electricity to the country’s residents. Sargsyan also said he does not rule out returning the company to the Armenian government and transferring it to competitive management, if the audit shows that the aforesaid increase in electricity prices is unjustified.