ArmInfo. "Energoimpex" CJSC will be withdrawn from the list of objects of state property subject to privatization. The decision was made at the February 6 meeting of the RA government.
As noted in the certificate - the rationale for the draft decision, the company had previously been included in the privatization program for 2017-2020, at the suggestion of the Ministry of Energy Infrastructures and Natural Resources of the Republic of Armenia. Now the intentions of the executive body have changed.
After the entry into force (July 1, 2018) of the amendments to the Law "On Energy", all suppliers and exporters of electricity are carried out without a license. However, as a result of legislative changes, licensed companies involved in the distribution and transit of electricity were unable to import or export electricity, acting solely as entities providing services in the domestic market. At the same time, companies with their own production have the right only to export electricity. In fact, there is a situation in which companies that have licenses are not entitled to export and import operations. In this regard, there is a need for such a company to deal with this issue.
And this company is intended to become Energoimpex CJCS. Within 20 days after the entry into force of this decision, work should be performed on the acceptance of state-owned shares to the Ministry of Energy Infrastructures and Natural Resources. The company will cover all costs associated with re-registration.
To note, Energoinvest was established in 2016 by the government's decision, based on the need to increase the supply of Iranian gas to the domestic market of Armenia. The company was granted the right to purchase, import, and also as a transit party to export electricity and gas from another country. "Energoimpex" is a unique company with a license to implement spot contracts.