Former acting general director of ENA believes the company`s license  will be revoked

ArmInfo.  David Ghazinyan, former acting general director of Electric Networks of Armenia CJSC (ENA) is convinced that the company's license will be revoked.

A week earlier, Mesrop Mesropyan, Public Services Regulatory  Commission (PSRC) Chairman, announced that administrative proceedings  against ENA would be completed by November 18. The investigation into  ENA's activities is being conducted by interim manager Romanos  Petrosyan, appointed head of the PSRC on July 18, 2025. After the  administrative proceedings are closed, according to the head of the  Regulator, if ENA's license is revoked as a result of the  proceedings, the position of interim manager will remain in effect  until negotiations with the owner of ENA are finalized. If production  stops, the interim manager will move on to another position, and the  owner will retain control of the company.

"I think that, yes, (the ENA) will lose its license. After the  decision to revoke the license is made, three months will be  allocated for negotiations with the company's owner," Ghazinyan  stated during a press conference on November 3. (Ghazinyan had  previously stated that, according to the Law on Energy, the state is  obligated to offer the owner the right to buy the company at the  market price plus 15% during this period.) During the aforementioned  three months, the head of the PSRC has the right to appoint an  interim manager and even reappoint the previous one. "I think, the  interim manager (Romanos Petrosyan), feels quite comfortable in his  current position "In the name of RA", receiving a salary of over 5  million drams; in his previous position (head of the State Control  Service under the Prime Minister - ed.), he received 690-790 thousand  drams." "However, even if another person is appointed, they will  still be under Petrosyan's control," David Ghazinyan noted.

If the three-month negotiations fail, the state, exercising its right  of first refusal, can either buy the company itself or sell it to  someone else.

The former head of Elnets recalled that the Constitutional Court  accepted a petition from parliamentary opposition factions  challenging the constitutionality of the laws regarding  nationalization. The issue of the constitutionality of the amendments  to the laws that allow for the nationalization of the company will be  heard on December 16. "In normal countries, if the Constitutional  Court accepts a case, even if no interim measure is provided, such  actions are refrained," he clarified.