Armenian Prime Minister Nikol Pashinyan stated that the nationalization of the company "Electric Networks of Armenia" will not become an additional burden for the state budget. According to him, the decision to transfer the enterprise under state control was made based on an expert assessment of its market value.
Pashinyan noted that the company had long been used in the interests of a narrow circle of individuals and had accumulated significant credit obligations. According to him, part of the attracted funds was provided to relatives in the form of interest-free loans, which negatively affected the financial condition of the enterprise.
Earlier, the interim manager of the company, Romanos Petrosyan, reported that the deadline for negotiations with the owners on a voluntary buyout expired on February 21. After that, according to procedures, the government may recognize the company's shares as an object of priority public interest and carry out nationalization with the payment of compensation. As a reminder, in November 2025, the regulator deprived the company of its license to distribute electricity due to identified violations, including falsification of meter data and problems with the implementation of investment programs.