Baku, Azerbaijan, October 4
By Tamilla Mammadova – Trend:
Average price of exported electricity from Georgia increased by 15.7 percent year-on-year in January-August 2019, explained by change in export mix in favor of more expensive markets, Trend reports via the research of investment company Galt & Taggart.
Despite the increase of average export price, the limited volume of exports resulted in 52.7 percent year-on-year drop of export revenues in January-August 2019 to only $9 million.
Trade deficit in electricity is expected at record high in 2019. In January-August 2019, electricity exports reached mere 0.2 TWh (-59.1 percent year-on-year), while imports were up by 20.5 percent year-on-year to 0.8 TWh.
Furthermore, according to the revised annual balance of electricity no further exports are expected, while imports forecasted at 1.6 TWh in 2019.
This means that the trade deficit will reach a record high 1.4 TWh in 2019. In value terms, the electricity trade deficit was $29.6 million in January-August 2019, and will likely double for the full year.
Balancing electricity price in Georgia was $4.6/kWh (-8.9 percent year-on-year) in January-August 2019.