The Buyer of ENA has Assumed New Obligations

The obligations of the owner of ''Electric Networks of Armenia'' CJSC were expanded enough after the sale. In addition to former obligations, the buyer of the company has also assumed new ones, which are essential for improving the financial condition of the ENA.

Particularly, the owner’s responsibilities include at least 2% reduction of the company's technological losses. On the other hand, it must prevent an increase in commercial losses compared to the 2014-2015 tariff year.

In the next 5 years, the new owner must implement international ISO standards, will significantly improve the company's quality management and energy system.

The buyer also must ensure 100% payments by the company to the manufacturers and service providers within the time fixed in the contract.

As it is known, due to financial difficulties, in recent period the former owner was not able to perform that condition on time and fully. That was creating problems for generating plants and companies providing services.