Armenian National Assembly approves draft law on potential nationalization of Electric Networks

The Armenian National Assembly adopted, in the first reading, a draft law on possible nationalization of Electric Networks of Armenia, owned by philanthropist and businessman Samvel Karapetyan.

The draft received 65 votes in favor and 30 against, with no abstentions.

According to the amendments, the Public Services Regulatory Commission of Armenia may initiate administrative proceedings if the security of the energy sector is or may be at risk, consumer rights or license obligations are violated.