Avanesov Alexandr

Ministry of Energy RA Not Armed with Info on Sale of

Ministry of Energy and Natural Resources RA is armed with no information regarding the sale of the <Electric Networks of Armenia" CJSC, said minister of Energy Yervand Zakharyan at a May 13 press-conference. 

"I can surely say I am neither confirming nor denying the message that states the electric networks are on sale", said the minister adding that he would have been the first one to learn if the company were on sale.  Zakharyan emphasized that the "Electric Networks" have the right to conduct negotiations with any potential buyer. Given the company's financial hardships, it is quite possible that some of its shares will be put up for sale. "However, I do not master information if the company is certainly to be sold", he emphasized.   

The media have previously issued a message that "Tashir" Group is purchasing the "ENA" CJSC. However, yesterday NA deputy Karen Karapetyan, the brother of Russian businessman of Armenian origin Samvel Karapetyan - the owner of "Tashir" group, denied those statements.  He issued a statement that reads: "It is out of question that "Tashir" group is intending or even has a wish of purchasing "Electric Networks of Armenia" CJSC". The rumours on purchasing "Electric Networks of Armenia" and, therefore, demanding to increase tariffs in order to dictate steps to private sector or especially the government are just ludicrous. "On the other hand, we have heard from the media the info on purchasing "Electric Networks of Armenia". It was obvious and natural that another growth for energy tariff would cause tidal wave. However, it is rather weird that sometimes there are tendencies on relating this phenomenon to "Tashir" group and its owner - Russian businessman Samvel Karapetyan. It is quite normal to assume the source and its reasons for attempting at shading the real culprits and laying the blame on a body and an individual that have nothing to do with the current hard situation. The one to purchase the electric networks will be taking a serious risk given the current hard situation, huge debts and a s- x-month-suspension of NPP operation in 2017 which will have its effect on energy balance", reads the statement issued on May 12, 2015.   

CJSC Electric Networks of Armenia was founded in May of 2002 as merger of four state regional companies ('Yerevan Electric Networks, 'North Electric Networks, 'South Electric Networks and 'Central Electric Networks) distributing and selling electric energy. The company is mainly engaged in regulated distribution and sales of electric energy. Overall spread of its grid is 36 thousand km. The company has an exclusive license for distribution of electric energy within the Republic of Armenia. Power distribution is implemented at tariffs confirmed by the Public Services Regulatory Commission of RA. The company provides service to about 935.000 customers.  "ENA" CJSC is a subsidiary of OJSC <RAO UES INTERNATIONAL CJSC.  OJSC 'INTER RAO UES  is a functioning operator of electricity exports and imports on the territory of Russia. INTER RAO UES OJSC currently heads a group of more than 20 companies based in fourteen countries. By acquiring foreign assets, the company significantly consolidates its position in commercially attractive electric power markets in Europe, the South Caucasus, the Far East and Central Asia.  CJSC 'ENA is one of the biggest tax-payers in RA.