01/07/2014 10:55
Haykakan Zhamanak: Electric Networks of Armenia on brink of bankruptcy
Electric Networks of Armenia Company (ENA) released its 2013 financial statement with the conclusions of Ernst & Young accounting firm. ‘Haykakan Zhamanak’ daily writes that ENA’s losses amount to 4 billion 470 million drams. This circumstance along with several others bears evidence of uncertainty that may call in question the company’s ability to continue to work uninterruptedly, according to Ernst & Young’s audit results.
In other words, ENA is on the brink of bankruptcy. For this reason Armenia’s Public Services Regulatory Commission decided to raise the electricity tariff and will hold a sitting today.