Armenian Parliament discussing  nationalization of Electric Networks  of Armenia CJSC

ArmInfo.At an extraordinary session of the National Assembly of the Republic of Armenia on July 1, discussions began in the first reading on the draft amendments to the laws aimed at nationalizing Electric Networks of Armenia CJSC. The package, which includes amendments to the laws "On Public  Services Regulatory Authority" and "On Energy", was developed by the ruling Civil Contract faction.

According to NA deputy Vladimir Vardanyan, who presented the  amendments, the chairman of the Public Services Regulatory Commission  (PSRC) will have the right to initiate proceedings upon receiving  signals about serious violations in the activities of companies.  These proceedings must be approved by the PSRC Board. During this  period, the PSRC may change the company's management by inviting a  temporary manager with at least 5 years of experience in the energy  sector or in management. The temporary manager will work until the  end of the research period, after which the energy companies will  either propose an action plan to eliminate the violations or be  deprived of their licenses. In the latter case, the owners will have  to sell the companies, and the government will retain a preferential  right to purchase for 3 months. If the owner refuses to sell within 2  months, an auction for the sale of shares may be appointed  administratively.

 In this regard, the Minister of Territorial Administration and  Infrastructure of the RA David Khudatyan recalled the instructions  previously given by  Prime Minister Nikol Pashinyan to calculate the  damage incurred by individuals and legal entities in the country as a  result of frequent power outages and voltage surges. According to the  minister, the situation really requires prompt intervention, since  the quality indicators of work have been so disrupted that mass  shutdowns need to be carried out  to build new lines and substations.  All this would have resulted in fines against Elnets amounting to  approximately 12.5 billion drams by the end of the year. Samvel  Karapetyan made his political statement just three days after the  government notified Elnets about all this.