Regulator revokes ENA license

The Public Services Regulatory Commission has revoked the license of Electric Networks of Armenia (ENA) for what it describes as mismanagement.

The decision was made during the regulatory body’s November 17 session after several days of debates.

The government had earlier appointed a temporary executive at ENA - the electric utility -through an emergency legislation, citing the company’s inability to fulfill its obligations. ENA has denied the accusations. The company is owned by billionaire tycoon Samvel Karapetyan’s Tashir Group of Companies.