Prime Minister Pashinyan outlines two scenarios for nationalizing electric utility

Armenian Prime Minister Nikol Pashinyan presented two scenarios for the nationalization of the Electric Networks of Armenia (ENA) at the 7th congress of the “Civil Contract” party, emphasizing that the government will retain a strategic stake in the utility.

“There is and will be a dictatorship of law and justice in Armenia,” Pashinyan said, expressing hope that democracy and commitment to democratic values will not be compromised. “May economic development not be damaged, and may the people's power not be jeopardized, because everything is limited by the people's power.”

Under the first scenario, ENA would be fully nationalized and handed over to professional, reliable management, remaining entirely state-owned. The second scenario envisions transferring the majority of ENA shares to a reputable international energy sector manage. In all cases, Armenia will retain a stake that will allow it to maintain the government's strategic presence in this vital infrastructure," Pashinyan said.

Pashinyan noted that the government would consider the second option only if the costs of the first scenario are disproportionately high for the state budget.

The Prime Minister highlighted that recent inspections of ENA revealed sufficient evidence of fraud, confirming long-standing concerns about its previous management.

 “During numerous visits to the regions, I saw that poor-quality electricity supply has been used by certain forces to ignite political discontent and turn the people against the government. We will not allow such games to be played with the Republic of Armenia,” Pashinyan said.