HEC Fined 20 Million Drams

HEC has been fined 20 million drams. This information was reported by the Public Services Regulatory Commission of Armenia.

Following the review of citizens' applications, the Commission initiated an administrative proceeding aimed at investigating a possible violation of the obligation to provide accurate and comprehensive information under the electricity distribution license conditions of the "Armenian Electric Networks" LLC.

As a result of the administrative proceedings, it was confirmed that the company presented inaccurate and non-comprehensive information, a fact which was also acknowledged by the company itself.

Considering that this violation hindered the Commission's regulatory function, specifically the proper implementation of the Commission’s authority to thoroughly and comprehensively address citizens' applications, the Commission imposed a fine of twenty million drams on the "Armenian Electric Networks" LLC.