PM says plan to nationalize electric utility is ready

Prime Minister Nikol Pashinyan announced Tuesday that the plan to nationalize the Electric Networks of Armenia (ENA) CJSC, the country’s electric utility, is ready. 

He said the process would soon enter the practical phase.

“The processes will take place in line with the legislation of the Republic of Armenia,” Pashinyan said on social media.

The Prime Minister suggested nationalizing the company on June 18.

Pashinyan earlier accused the executives of the ENA of mismanagement and causing a near-energy crisis in the country. He suggested that citizens must be compensated for damages related to frequent power outages.