REKK, in collaboration with Potomac Economics, conducted an assessment of the codes and regulations governing the newly liberalised Armenian electricity market: the Wholesale Electricity Market Rules, the Retail Electricity Market Trading Rules, the Electricity Transmission Network Codes and the Electricity Distribution Network Codes. In this review, we assessed the key elements of the above regulations from the perspective of promoting competitive markets. We identified areas for potential improvement, with a particular focus on issues relating to efficient and effective market-based competition and the structure and practices in the EU's liberalised electricity market.