License Suspension Cannot Disrupt Electric Networks' Financial Stability: PSRC

Considering the public concerns regarding the sustainability of the activities of the "Armenian Electric Networks" LLC, we inform that according to the legislation, the company is obliged to fulfill all its financial obligations, even after the suspension of its electric energy distribution license.

This was stated in a press release by the Public Services Regulatory Commission of the Republic of Armenia.

"Moreover, until the completion of the legal processes aimed at the complete transfer of the electric energy distribution activities, the temporary manager performing the functions of the company's executive body is obliged to ensure the normal operation of the company, including its financial stability, as well as the reliable and secure operation of the system. Therefore, the financial and cash flow stability of the company is not only not disrupted by the withdrawal of its license, but also, considering the existing legal and economic frameworks, cannot be disrupted," the statement read.