ArmInfo. The Armenian government has recognized the priority public interest in 100% of the shares of Electric Networks of Armenia (ENA) CJSC.
Davit Khudatyan, Minister of Territorial Administration and Infrastructure of Armenia, presented the bill at a government meeting on October 15.
He stated that the adoption of the bill will be followed by an assessment of the enterprise's value by a company licensed in Armenia. The amount determined by the assessment is payable to the owner. The latter, according to the minister, has the right to accept the price proposed by the government or commission the assessment from another company licensed in Armenia. The two proposals are then compared, and a new price is determined. "If they do not accept the offer and do not conduct the assessment themselves, the calculated value is placed in the depository, and the transaction is completed," Khudatyan explained.
Considering the critical and strategic importance of the ESA for all sectors of the Armenian economy, and the fact that the Public Services Regulatory Commission (PSRC) has already approved and terminated the enterprise's license based on identified issues, according to the minister, this process is not a right of the Republic of Armenia, but an obligation to protect the public interest.
Armenian Prime Minister Nikol Pashinyan, in turn, noted that all these actions fit into the government's "Plan A," which requires the enterprise to become state property and be transferred to the management of a leading international company or group of companies. Should circumstances arise that impede the implementation of "Plan A," he said, other scenarios will be discussed. Recalling his statement regarding the return of all stolen property to the state, he emphasized that all logical and illogical deadlines for using the opportunities provided by the authorities after the 2018 revolution have already been exhausted. The Prime Minister noted that all possible "doors and windows" are closing, as the authorities are preparing to introduce legislative changes that eliminate the settlement mechanism, under which the state was supposed to receive at least 75% of the market value of the allegedly illegally seized property, and accordingly, up to 25% of its value could remain with the owner.
As a reminder, since 2016, Electric Networks of Armenia CJSC has belonged to Samvel Karapetyan's Tashir Group of Companies. In 2025, Prime Minister Nikol Pashinyan announced his intention to nationalize ENA following Karapetyan's statement expressing public support for the Armenian Apostolic Church (AAC) and his arrest. Parliament later adopted amendments to laws providing for the return of the Electric Networks of Armenia to state control. On July 18, the head of the Public Services Regulatory Commission appointed Romanos Petrosyan as interim manager. The latter, starting on July 24, began making the first personnel changes among the company's high-ranking officials, despite the Stockholm Arbitration Court's decision not to change the composition of the company's governing bodies and refrain from actions aimed at expropriating the company. On August 9, the shareholder of the Electric Networks of Armenia and the general director of Tashir Capital Narek Karapetyan filed a lawsuit in the Administrative Court of Armenia against the Public Services Regulatory Commission (PSRC) and its Chairman Mesrop Mesropyan, demanding that the PSRC be declared to have no authority to change the company's management. By the PSRC decision of November 17, 2025, Electric Networks of Armenia CJSC was stripped of its electricity transmission license. The decision listed the violations the commission found in the company's activities. On March 3, 2026, Romanos Petrosyan, interim manager of ENA and member of the board of the ruling Civil Contract party, announced that the state was preparing for the full nationalization of the shares of Electric Networks of Armenia (ENA), recognizing it as a priority public interest, and to pay compensation to the owner, Tashir Capital. He clarified that February 21 was the deadline for the government to make an offer, conduct negotiations, and as a result of the transaction, 100% of the company's shares were to be transferred to the state. At the same time, the interim manager refused to name the specific cost of ESA and the price proposed by the government. Meanwhile, Pashinyan said earlier that the price of the company could be reduced under a number of circumstances. The Prime Minister explained that the company had long been used for narrow personal purposes. In addition, according to available information, ESA is burdened with loan obligations, which were then transferred to close associates and relatives without charging interest. the head of government emphasized. Meanwhile, a member of the board of the Strong Armenia party, former CEO of ESA David Ghazinyan stated that the real value of Electric Networks of Armenia (ENA) is close to $ 1 billion, and the owners of the company will not agree to their sale at a reduced price.
