YEREVAN. – The Electric Networks of Armenia, controlled by Inter RAO, dismissed speculations about talks on selling the company.

Spokesperson for the company Natalya Sarjanyan also dismissed rumors about replacing Director General of the company Yevgeny Bibin.

As regards the statement made by Inter RAO chairman Boris Kovalchuk, the spokesperson said it was of a general nature.

“Kovalchuk said no more than Inter RAO is ready to buy and sell any asset at the right price. No negotiations are being held specifically on the Electric Networks of Armenia,” she said.

Despite numerous protests, the Public Services Regulatory Commission on June 17 made a decision to increase the price of electricity in Armenia by 6.93 drams.

In a statement made on the sixth day of demonstrations in Yerevan on June 27, the Armenian leader said the government will absorb electricity price hike before the end of evaluation conducted by an international company.