The main issue regarding the Electric Networks of Armenia (ENA) company is the strategic approach. Prime Minister Nikol Pashinyan stated this during a working meeting Tuesday with the temporary manager of ENA, Romanos Petrosyan.

Pashinyan recalled that two possible options have been discussed in this regard, which he has publicly announced.

“Option one: we make ENA fully state-owned according to established procedures, after which we invite a professional manager for the sector to run [it] under government oversight. The second option: if we see that this is not feasible for some reason, because we would still have to make payment to acquire the company, and if we see that this expense is not justified with state funds, we should bring in a new investor through transparent procedures. I want to say honestly: the best, preferred option for me is the first one, the nationalization of ENA, but there is a financial issue there. In that case, we will resolve this issue strategically, exit, and in the long term reduce these risks for our country. Even if we assume there will be problems with the concessionaire, it is easier there, it is our property, and we can have the full authority,” the Armenian PM said.

Pashinyan noted that it is important to determine the ENA’s objective value, which, figuratively speaking, could be an objective divestment price, of course taking into account certain nuances.

“All factors have an impact here. For example, the fact that the company has actually engaged in actions that led to it being deprived of its license by a clearly justified decision. The license itself is a very significant part of that value. Of course, we have some time to think calmly. We will think [about it], analyze also the information you provided, consult with the Public Services Regulatory Commission as well, consult within the government as well, and [then] come to a decision,” the Armenian premier said, addressing the temporary manager of ENA.