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| 18:59:09 | 15-09-2005 | Politics |
USAID ISSUED STATEMENT ON ELECTRIC NETWORKS OF ARMENIA
The USAID Statement issued on the Electric Network of Armenia says, “It has
been reported that Midland Resources Holding (MRH) has recently requested
permission from the Government of Armenia and the Public Services Regulatory
Commission (PSRC), as required by Armenian laws and regulations, to sell its
shares of Electric Networks of Armenia (ENA).
The PSRC took aggressive steps to seek clarification of this issue in early
August. USAID notes that these steps fall squarely within the mandate of the
PSRC, as the regulating body tasked with implementing relevant Armenian
laws.
A transparent and robust decision-making process, managed by a strong
regulator, is key to protecting the interests of energy consumers. USAID is
happy to continue assistance to the PSRC and others to ensure the design and
implementation of such a process.
USAID will continue to observe, with interest, the process currently
underway to evaluate and respond to MRH’s request.”