All assumptions underlying revocation of ENA lincense refuted during  court sitting 

ArmInfo. During the trial, which lasted approximately 29 hours, all false facts and assumptions underlying the revocation of Electric Networks of Armenia CJSC's electricity transmission license were refuted. Lawyer Vardan Aloyan  wrote this on his Facebook page.

According to him, the court ruling on the lawsuit filed against the  revocation of ENA's license will be published on March 26.

It should be noted that by a decision of the Public Services  Regulatory Commission (PSRC) dated November 17, 2025, Electric  Networks of Armenia CJSC's electricity transmission license was  revoked.  The decision details the violations the commission found in  the company's activities. On March 3, 2026, Romanos Petrosyan, the  interim manager of ENA and a member of the board of the ruling Civil  Contract party, announced that the government was preparing to fully  nationalize the shares of Electric Networks of Armenia, 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, transfer 100% of the company's  shares to the state. However, the interim manager declined to  disclose the specific value of ENA or the price offered by the  government.

Meanwhile, Pashinyan had previously stated that the company's price  could be reduced under certain circumstances. The prime minister  explained that the company had long been used for narrow personal  purposes. Furthermore, according to available information, ENA was  burdened with loan obligations, which were then transferred to close  associates and relatives without accruing interest. "According to  preliminary estimates, all of this naturally reduces the company's  market value and will not create serious problems for the budget,"  the head of government emphasized.

Meanwhile, David Ghazinyan, a member of the Strong Armenia party  board and former CEO of ESA, stated that the real value of Electric  Networks of Armenia (ENA) is close to $1 billion, and the company's  owners will not agree to sell it at a reduced price.