Government to Recognize Public Interest Over 100% Shares of Electric Networks in Coming Weeks

The Electric Networks of Armenia (ENA) released a statement regarding a recent meeting held yesterday: “On August 3, an expanded working consultation was held under the leadership of a temporary manager at the Electric Networks of Armenia, attended by deputy general directors, branch directors, the leadership of the energy supply and service department of Yerevan, as well as the heads of operational districts.

At the beginning of the discussion, the manager informed that a public hearing had taken place recently at the Ministry of Territorial Administration and Infrastructure. In the coming weeks, the government will recognize public interest in the 100% shares of the Electric Networks of Armenia. A market value assessment will be conducted in accordance with the established procedure, owners will be officially notified, and compensation will be provided. Afterward, the company will receive state registration as 100% state property.

During the meeting, it was emphasized that although the average duration for conducting planned work in the distribution network has been reduced, there are still issues regarding the efficiency and control of the ongoing works. The temporary manager noted that all inspectors are obliged to be available to citizens 24 hours a day and to respond quickly to any emergencies, ensuring uninterrupted electricity supply to subscribers and proper notification regarding emergency and planned works.

Restoration works must be carried out in such a manner that they provide not temporary, but final and effective solutions to prevent possible recurrence of emergencies.

The significant number of applications from new subscribers to connect to the distribution network was also discussed, largely attributed to the significant reduction in tariffs for becoming a new subscriber at the end of April (up to 40%). In the last two months, around 2,500 new subscribers have connected to the distribution network, representing an increase of approximately 35% compared to the same period last year.

The work of connecting new subscribers to the network is currently being conducted in various ways, including through contractor companies, the company's own resources, as well as new procurement contracts.

Romanos Petrosyan, the temporary manager of ENA, also referred to the recent cable line accident on Pap King Street in Yerevan, regarding which an internal investigation is being conducted at ENA.

“The Electric Networks of Armenia will remain committed to ensuring proper implementation of renovation works across all communities in Armenia to prevent damage to the electricity cables owned by the company and the potential emergencies that may arise from them,” he summarized.

Concluding the working consultation, Romanos Petrosyan stated, “Starting today, we are transforming the crisis management phase at the Electric Networks of Armenia into a large-scale process of sustainable development.”