Significant Savings Recorded at HEC: Romanos Petrosyan

The regulatory body has approved a total budget of approximately 46.7 billion AMD (excluding VAT) for the HEC's 2026 Investment Program, of which about 75-80% is allocated for electrical equipment and various materials necessary for the work. This information was shared by Romanos Petrosyan, the temporary manager of HEC, on his Facebook page.

"Currently, the processes of summarizing the competitions for the procurement of construction works and signing contracts are actively ongoing, and literally within days, the actual work will commence. The procurement processes for necessary equipment and materials are also being carried out exclusively in an open, transparent, and competitive manner, with 35-40% already completed, and massive supplies are underway. At this stage, in strict accordance with the procurement regulations established by the regulatory body and following the public procurement legislation of Armenia, material values exceeding 12.2 billion AMD have been procured, for which around 16.7 billion AMD was budgeted in HEC's 2026 procurement plan. Consequently, for this phase, strictly through competition and inclusive procurement, HEC has recorded savings of more than 4.5 billion AMD in financial resources, which will be entirely directed towards the modernization of the distribution network's infrastructure. HEC is now serving our people better than ever," wrote Romanos Petrosyan.