Georgia sees increase in electricity imports

Georgia sees increase in electricity imports

BAKU, Azerbaijan, December 29

By Tamilla Mammadova – Trend:

Import of electricity in Georgia increased by 10.5 percent year-on-year from January through November 2019, Trend reports referring to Georgian investment company Galt & Taggart.

"Notably, for the first time, this year electricity was imported in July and August, while these months generally considered as most suitable for export," said the company.

According to Galt & Taggart, in the reporting period, electricity was imported from Azerbaijan (64 percent of total) and Russia (36 percent of total).

The main import source from January through August 2019 was Azerbaijan with a 91.1 percent of total imports. From September till December 19, the import from Azerbaijan was replaced by Russian import, with a 75 percent share in total.

This switch is explained by cheaper electricity imports price from Russia - average import price in August, when electricity was fully imported from Azerbaijan, was USc 5.2/kWh, while average import price in October, when 99 percent of electricity was imported from Russia, was USc 4.7/kWh (-8.8 percent difference).

However, later the electricity import from Russia was suspended and fully replaced by imports from Azerbaijan.

The cost of import increased by 5.4 percent year-on-year and reached $67.3 million in 11 months of 2019, from which $22 million was spent on imports from Russia. Georgian Commercial Electricity System Operator (ESCO) was the largest importer of electricity in 11 months of 2019.

Trade deficit in electricity is expected at record high in 2019. In 11 months of 2019, electricity exports reached mere 0.2 TWh (-58.6 percent year-on-year), while imports were up by 10.5 percent year-on-year to 1.4 TWh. In value terms, the electricity trade deficit widened by 29.7 percent year-on-year to $58.2 million in 11 months of 2019.

Electricity transit from Azerbaijan to Turkey through Georgia reached 116.7 GWh in 11 months of 2019. The transit amount increased 8.7 times compared to 11 months of 2018, but is far below the high transit levels of 2016 and 2017.

Balancing electricity price in Georgia was USc 4.7/kWh (-5 percent year-on-year) in 11 months of 2019. The slight decrease of the average balancing price is attributable to the access of ESCO to the Enguri’s cheap electricity and consequently decreased average price of electricity.

Some 21.1 percent of total electricity supplied to the grid was traded through the market operator (ESCO), with the rest - through bilateral contracts.

---

Follow the author on Twitter: @Mila61979356

Munitions found in Azerbaijan's Khojavand district
Munitions found in Azerbaijan's Khojavand district
Commission for Crimes in Karabakh to politically, legally assess Armenian aggression
Commission for Crimes in Karabakh to politically, legally assess Armenian aggression
Liberated lands of Azerbaijan already have good mobile signal - Russian 'Izvestia'
Liberated lands of Azerbaijan already have good mobile signal - Russian 'Izvestia'
Loading Bars
Latest
Bitcoin rises 5.6% to $49,337.72
UK records another 1,926 coronavirus cases, 4 deaths
Tourism Administration to participate in Dubai Tourism Exhibition
Iran to vaccinate 14m citizens against COVID-19 by end of June: Minister
Uzbekistan and Tajikistan discuss the development of trade and economic ties
Value of Turkish cars imported by China surges
Azerbaijan using combat aircraft units in military exercises (VIDEO)
Azerbaijani grabs gold at 2021 US Judo Senior National Championships (PHOTO)
Ankara Commission investigating crimes committed during Karabakh war holds first meeting (PHOTO)
Tank units of Azerbaijani Armed Forces perform tasks within scheduled exercises (VIDEO)
Azerbaijan’s Diamond Motors company names winner of tender for purchase of vehicles
Iran kicks off operation to develop Kong fishing port in Hormozgan Province
Political parties in Armenia urge to oust active PM and president
Iran's Energy Exchange announces products to be on sale on May 17
MP explains Iran's benefits of selling oil products instead of crude
Slovenian Port of Koper could serve as fastest way and entry point for Georgian goods entering EU
Rising commodity prices create preconditions for potential strengthening of currencies in CIS - expert
Azerbaijan names number of sold cars in 1Q2021
Azerbaijan discloses volume of non-oil products exported to Turkey
Azerbaijani Army's missile, artillery units heading for exercise areas (VIDEO)
Bahar Azadi gold coin price rising in Iran
National Iranian Drilling Company starts drilling operations on Siyah Makan oil field
French investment bank to assist in transformation of state-owned enterprises in Uzbekistan
Khazar consortium opens tender for purchase of office equipment in Turkmenistan
Udi people always feel attention of Azerbaijani president, first lady - head of Albanian-Udi Christian community
Azerbaijan's economy shows positive tendencies in March 2021, says WB
Travel to Saudi Arabia to resume Monday after year of restrictions
Royal Caribbean cancels new cruise line from Israel over unrest
Cargo movements in Iran’s Amirabad port shrink
Ranking of best-selling cars in global market for 1Q2021 announced
Bolivia receives another batch of Russia’s Sputnik V vaccine
Turkmen Communications opens tender for supply of equipment
Iran exporters seek stable foreign currency rate
Azerbaijan discloses date of next plenary parliamentary session
Personnel, military equipment of Azerbaijani Armed Forces sent to exercise area (PHOTO)
First Armenian president reveals reasons for country’s defeat in Karabakh war
Iran’s NIOC, POMC to sign contract on development of Farzad B gas field
Activities in Iran’s Noshahr port intensify
Greece talks latest trade data with Turkmenistan
Azerbaijan shares data on number of vaccinated citizens for May 16
Kazakhstan boosts trade with Poland
Azerbaijan confirms 472 more COVID-19 cases, 1,122 recoveries
Azerbaijani manat's exchange rate remains stable - WB
Kazakhstan unveils its trade structure with EAEU countries for 1Q2021
Greece exploring ways to further diversify bilateral trade with Turkmenistan
Iran's Ministry of ICT to provide free internet for presidential candidates
Iran lifts steel ingots export ban
Azerbaijan, Germany implementing joint agricultural projects
Iran declares amount of loans issued in Fars Province
Detailed look at Turkmenistan's development of agriculture sector (2020 - May 2021)
Tourism potential of Azerbaijan's liberated Shusha at int'l exhibition in Dubai (PHOTO)
Ports and Maritime Organization of Iran seeks tax exemption for Chabahar port
Azerbaijan discloses insurance fee for rice fields
Abu Dhabi shares at record high, shrugging off Israel-Palestine tension
Israel's import of Turkish chemicals spikes in value
SOCAR Ukraine temporarily suspends premium fuel sales
Britain to hold meeting to encourage global COVID vaccine take-up
Azerbaijani agrarian agency signs tender to attract judicial services
Purchasing of rapeseed from farmers in Iran continues
CPI up 0.3% in April, well below expectations
Uzbekneftegaz shares data on shipment of sulfur products
Russia’s COVID-19 spread rate surpasses 1 for eight days in a row
Disney World and other U.S. theme parks update mask rules
Troops of Azerbaijan's Nakhchivan garrison to launch new command-staff exercises
Share of non-performing loans in Georgia doubles
EU allocates financial aid for programs in support of Georgian private sector
Government Trading Corporation of Iran unveils volume of wheat purchased from farmers
Iran's free trade zones require private sector investments - President Rouhani
Volume of cargo loaded, unloaded in Iran’s Anzali port decreases
Azerbaijani parliamentary delegation leaves for visit to Italy
Bitcoin rises 5.6% to $49,337.72
Most temples belonging to Udi people are either in ruined or dilapidated condition. Therefore, we will restore them too - President Aliyev
Iran's launches supercomputer
Proxy advisor ISS recommends votes for Chevron CEO, directors
WB talks growth of lending to Azerbaijan's economy
Saudi Arabia's national airline to resume flights to Georgia
Uzbek commodity exchange notes decrease in prices for cotton seeds
Udi people have great historical heritage - President Aliyev
Georgian FM to pay official visit to Kyiv
Iran’s East Oil & Gas Production Company boosts gas extraction
Biggest share of Azerbaijan's GDP accounts for industry
Turkmenistan interested in expanding co-op with Russia’s Lipetsk region
Azerbaijani Armed Forces continue exercises, moving to operational areas (VIDEO)
Georgia sees increase in COVID-19 cases
Iran reveals COVID-19 data for May 16
Russian airline expanding route of flights in direction of Baku
Azerbaijan expected to approve another int'l document on migration issues
Iran government increases pensions
Retail trade indicators up in Kazakhstan
Physical volume of Kazakhstan’s GDP down in 1Q2021
Turkmenistan, Iran talk over increasing sea transportation in Caspian Sea
Ministry talks social benefits paid out to population in Azerbaijan since early 2021
GDP per capita increases in Azerbaijan
Azerbaijan discloses amount of trade surplus for 1Q2021
Azerbaijan creating industrial clusters to develop metallurgical industry
Facilities to be put into operation at Iran's Ilam Airport
Fitch Ratings shares forecast for Azerbaijan's 2021-2022 external public debt
Baku Higher Oil School hosts webinar ‘Women in Engineering: Challenges and Opportunities’ (PHOTO)
Batumi International Airport of Georgia receives first passenger flight after reconstruction
Azerbaijan's Azerishig to purchase metal structures
All news