YEREVAN. – Unfortunately, losses at the Electric Networks of Armenia (ENA) Company do not reduce with the same effectiveness as in the High Voltage Electric Networks Company.

The Deputy Minister of Energy and Natural Resources, Areg Galstyan, stated the aforementioned at a press conference on Friday.

“All this is a result of the investments in the years past,” Galstyan added.

The deputy minister noted that, unfortunately, at such a pace, the ENA cannot be upgraded.

“We are exerting pressure against them, whereas they are saying new investments are needed in the network,” Galstyan stated.  

At any rate, as per the official, this does not mean that the ENA needs to be nationalized.  

“There are enterprises where the private sector manages better,” Areg Galstyan stressed.

The Electric Networks of Armenia Company has petitioned to the Public Services Regulatory Commission, with a request for an electricity price hike in Armenia. If this request is granted, it is expected to be followed by an increase in the prices of first necessity goods in the country.