Romanos Petrosyan, the temporary administrator of Electric Networks of Armenia (ENA), told reporters that he has full knowledge of the company’s internal situation and that inspections carried out under his mandate revealed significant violations. He emphasized that during his three-month tenure, he has “done a great and valuable service” for the Karapetyan family — the owners of ENA — as reported by Sputnik Armenia.
“Upon taking over at ENA, conducting audits and oversight operations, it quickly became clear to me that long-standing issues had been concealed from the PSRC and other agencies. That compelled the Commission’s chair to initiate administrative proceedings and appoint a temporary administrator,” said Petrosyan.
He rejected accusations that he influences PSRC Chairman Mesrop Mesropyan, stressing that he was appointed by the latter, not directing him.
Petrosyan declined to disclose his salary, saying it will appear in his official asset declaration, but claimed that he and his team had voluntarily rejected the large bonuses received by the previous executives. “You’ll see my salary in the declaration. My team and I declined the millions in bonuses that former officials used to receive,” he said.
He claimed that his administration generated major financial savings during procurement and investment processes, fought hidden financial flows at upper management levels, and brought transparency that will ultimately benefit the company and its owners.
“If not billions, then I’ve saved hundreds of millions of drams by ensuring transparency in procurement and investment delivery, and by combating shadow turnovers in middle and upper management. This will eventually become profit, on which profit tax will be paid resulting in dividends for the Karapetyan family,” he added.
Petrosyan made these remarks during a break at the PSRC hearing, where Tashir Capital’s motion to recuse Mesropyan was being reviewed — a motion that was later rejected.
He also stated that the administrative proceedings against ENA are proceeding entirely within legal bounds. Speaking to Armenpress, he said his earlier comment about the possibility of revoking ENA’s license was not a prejudgment but based on audit findings. “That was simply a result of the disclosures I made as temporary administrator. I was within my authority to make such inferences,” he said.
Responding to concerns that the process could be unconstitutional, Petrosyan said the matter is currently under review by the Constitutional Court, which is scheduled to hold a hearing on December 16.
“Wait for the Constitutional Court’s ruling. I’m confident the entire process is legal — unless the court rules otherwise,” he stated.
ENA belongs to the Tashir Capital group. Its owner, Samvel Karapetyan, was arrested in June 2025 — shortly after Prime Minister Nikol Pashinyan called for ENA’s nationalization. In July, the National Assembly passed legislation granting the PSRC broad powers over licenses. On July 18, Petrosyan was appointed interim administrator, and administrative proceedings were launched.
Karapetyan had acquired the company in 2016 at the government’s request and invested hundreds of millions of dollars into modernizing the grid.
