YEREVAN. – The executive director of the Electric Networks of Armenia (ENA) Company, Yevgeny Bibin, has not yet returned to Armenia, ENA Spokesperson Natalya Sarjanyan told Armenian News-NEWS.am.

Sarjanyan added that it is not yet known when Bibin will return.

She also noted that the ENA boss is in Moscow to attend several consultations.

In addition, Sarjanyan denied the news about launching criminal proceedings, arresting the head of the ENA, and putting this company up for sale.

The ENA spokesperson added that she could not say when an audit will be conducted at the company.

Despite numerous protests, the Public Services Regulatory Commission recently increased the price of electricity in Armenia by 6.93 drams—instead of 17 drams, proposed by the Electric Networks of Armenia—, per cubic meter, and this decision will take effect on August 1. But the decision is expected to be followed by an increase in the prices of numerous products and services in the country.

President Serzh Sargsyan, however, stated that the government will cover this price hike until an audit is conducted at the ENA, which supplies electricity to the country’s residents. Sargsyan also said he does not rule out returning the company to the Armenian government and transferring it to competitive management, if the audit shows that the aforesaid increase in electricity prices is unjustified.