YEREVAN — The Armenian govern- ment is preparing to fully nationalize the shares of the Electric Networks of Armenia (ENA) company, recognizing a prevailing public interest and provid- ing compensation to the current owner, Tashir Capital. This was announced by Romanos Petrosyan, the temporary manager of ENA and a board member of the Civil Contract Party, during an interview with Factor TV. Petrosyan explained that Febru- ary 21 had been the deadline for the government to present an offer and conduct negotiations so that, through a deal, 100% of the company’s shares would transfer to the state. “I know that, in accordance with the law and within the required dead- lines, the Ministry of Territorial Ad- ministration and Infrastructure—on behalf of the government—made an official offer to the owners. However, no transaction took place,” Petrosyan said. “This means that after February 21, under Article 60 of the Constitu- tion, the government must recognize the company’s 100% shares as a matter of overriding public interest and, after compensation is paid, fully nationalize it. The process has now entered that stage.” Petrosyan declined to specify the value of ENA or the price of- fered by the government. He also rejected claims that develop- ments surrounding ENA consti- tute political persecution against businessman Samvel Karapety- an. Petrosyan also stated that the government has submitted a proposal to the Public Services Regulatory Commission of Armenia to reduce electricity tariffs. However, according to him, implementing such reductions is currently not possible due to the upcoming scheduled shutdown of the Armenian Nuclear Power Plant, during which Armenia will be forced to purchase more expensive electricity. “If the coincidence of the nuclear plant’s scheduled shutdown and mod- ernization cycle had not occurred this year, I assure you that tariffs for our citizens would also have been re- duced,” he said. Petrosyan added that the govern- ment plans to significantly reduce other fees. “We are planning a 30% to 40% reduction in the fees for becom- ing a new subscriber and connecting to the distribution network, which cur- rently make up a substantial portion of the existing tariff. We will also reduce by 50% the payments related to in- creasing the capacity of supplied elec- tricity,” he said.