Inter RAO does not confirm news about selling Armenia electricity company

Inter RAO does not confirm news about selling Armenia electricity company

Russian state-owned company Inter RAO UES, which is the proprietor of the Electric Networks of Armenia (ENA) Company, did not confirm the media news that it plans to sell its assets in Armenia.


TASS news agency of Russia reported about the aforementioned citing an official representative of this Russian energy holding.


“We do not confirm the news about selling the [ENA] company,” said the interlocutor of the Russian news agency.


As reported earlier, Kommersant newspaper reported citing its sources that Inter RAO is ready to sell the company amid statements on upcoming nationalization voiced in Yerevan, and that talks are underway with Russian entrepreneurs of Armenian origin.


According to the newspaper, the company has already held talks with Samvel Karapetyan, President of Tashir Company, and “[several] other Russian entrepreneurs of Armenian origin.”


On the evening of June 23, numerous people had commenced a sit-in at Baghramyan Avenue in capital city Yerevan, closed it off, and demanded the revoking of the decision to raise the price of electricity in the country. But on Sunday, some of them went to Liberty Square, whereas the majority stayed at Baghramyan Avenue.


Despite numerous protests, the Public Services Regulatory Commission recently increased the price of electricity in Armenia, 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 government and transferring it to competitive management, if the audit proves that the aforesaid increase in electricity prices is unjustified.






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