The interim manager of HEC, Romanos Petrosyan, presented 5 significant achievements that have been possible through state intervention during the one-year management of HEC on his Facebook page:
“Since many members of the National Assembly, both my teammates (from the Bright Future faction) and from opposition groups, have been regularly mentioning HEC in their speeches lately, I found it necessary to highlight 5 significant ACHIEVEMENTS that we have reached through state intervention during the one-year interim management of HEC:
- In the list of 1000 large taxpayers, HEC improved its position by 8 points, rising from 21st to 13th place (paying 62% more taxes in the first half of 2026 compared to the same period in 2025).
- Approximately $50 million of HEC's obligations to various international and local banks, out of a total of around $400 million, have been repaid (including early repayments), while the nominal value of HEC's bonds has increased by 7-10% in the financial market.
- To ensure the proper organization of the COP-17 summit hosted in Armenia, HEC is building a new modular modern substation with a voltage of 35/6 kV for the first time in our country (the project cost is 1.2 billion AMD).
- Tariffs for new subscribers to the distribution network have been reduced by up to 40%, while the coefficients for increasing existing capacities have been reduced by up to 55%. As a result, the number of applications for connecting to HEC's distribution network has increased by 4-5 times.
- For more than half of the company's employees (3400-3500 people), salaries have increased by 12-25%, and HEC compensates the monthly electricity expenses for about 400 employees with three or more minor children, while around 500 employees at the headquarters receive free quality meals at the company's expense.
HEC also serves our people,” wrote Petrosyan:
