The public regulator’s decision to fine the Electric Networks of Armenia is an attempt to cover the existing debts, says an activist of the civic group “No to Plunder”.

“I do not practically insist on that, but it’s quite possible that by fining the Electric Networks they will take the money from them to pay off the company’s debts,” Vaghinak Shushanyan told Tert.am, commenting on the decisions made by the Public Services Regulatory Commission (PSRC). Report tert.am

Describing the move as just a show for the society, the activists said he expects a lot more scenarios of the kind until the end of the promised auditing. “They have to try to throw dust in the society’s eyes …” he added.

In its session on Wednesday, the Commission imposed a fine totaling AMD 60 million (over $125,000) on the power giant in 11 different decisions. The meeting was also attended by Yevgeny Bibin, the company’s Russian chief executive.

Maxim Sargsyan, another activist of the group, also agrees that the decision is part of a political show.

“Naturally, it is a show, a belated decision which the PSRC should have made long ago, without waiting for pressure,” he told our correspondent.

Vice-Chairman of the Heritage party Armen Arustamyan shared the opinion.

According to him, it is “crying over spilt milk.”

“The show is going on, and it does not mean anything. The people have stood up, and steps being made can by no means influence the general process. They can only do something ‘post factum’ as if they were interested,” Mr Martirosyan said.

“The Electric Networks of Armenia company should have been fined two or three years ago, when it was accumulating debts because of mismanagement and there was a need for reforms, modernizing substations.”

Crossbencher Edmon Marukyan welcomes the step by the Public Services Regulatory Commission.

According to him, the public must demand even more.