Arpine Hovhannisyan on Revoking HEC's License

The Public Services Regulatory Commission (PSRC) is discussing the issue of revoking the license of the Armenian Energy Company (HEC). This revocation will be equivalent to expropriation, meaning it will lead to the deprivation of property rights. This was announced by lawyer Arpine Hovhannisyan.

"This is the most complex and difficult means of intervention that is subject to legal justification, based on significant evidence, because it is obvious that both short-term and long-term, it cannot have a positive impact on the investment environment of Armenia and the country’s ranking in various metrics," she emphasized.

It is noteworthy that on July 3, the National Assembly of Armenia adopted a package of amendments and additions to the Law on Public Services Regulatory Authority and the Law on Energy in the second reading with 65 votes in favor, 27 against, and 0 abstentions, also known as the draft for the nationalization of HEC.