Electricity sector reforms in Armenia are already showing positive outcomes, according to President Vahagn Khachatryan. During a conference titled “The Current State and Prospects of Armenia’s Energy Sector,” organized by the National Assembly and Government of Armenia, the President announced the liberalization of the electricity market in the country. This development marks a significant step forward for Armenia, as it paves the way for increased competition and investment in the sector.

President Khachatryan emphasized the importance of this reform, stating that the absence of a liberal electricity market hindered progress in the past. He noted that if the country had not taken this step, all problems related to electricity supply, corruption, and the lack of investment would have been attributed to the previous system. The liberalization of the market began in February and has already started generating positive results.

Looking ahead, the President highlighted the government’s ambitious goals for the electricity sector. It is expected that by 2030, 50% of the sector, including large hydroelectric power plants, will be completed. Over the next 40 years, the government aims to achieve 60% completion. Khachatryan stressed that the regulation of mechanisms is crucial to achieving good governance and reducing dependency on non-renewable energy sources.

The liberalization of the electricity market in Armenia is seen as a significant milestone that will contribute to the country’s energy security and sustainability. With increased competition, it is anticipated that the market will attract more investors and foster innovation in the sector. This reform will also provide opportunities for renewable energy projects, further driving Armenia towards a greener and more sustainable future.