A new license is planned in the energy sector that will allow energy to be stored within designated facilities.

The bill was approved at a Cabinet meeting and forwarded to parliament.

David Khudatyan, Minister of Territorial Administration and Infrastructure, presented the regulation at the Cabinet meeting on April 2.

“At the same time, the license will allow, in accordance with market rules, the right to buy and sell electricity on the wholesale market and to provide storage services to market participants. Licensing will not apply to energy storage at facilities with a capacity of up to 1 megawatt, or to storage of electricity at facilities larger than 1 megawatt for self-consumption only,” the minister explained.

He noted that such regulation had not previously been necessary in the sector, as energy storage technologies have only recently seen widespread use globally and in Armenia.