Georgia starts testing the Energy Exchange
BAKU, Azerbaijan, Sept. 21
By Tamilla Mammadova – Trend:
The Georgian Energy Exchange, created to form a competitive electricity market, has been put into operation in a test mode, said David Narmania, Chairman of the Georgian National Energy and Water Supply Regulatory Commission (GNERC), Trend reports via Georgian media.
"All companies wishing to trade in electricity, from the Inguri hydroelectric power station, our largest generating facility, to small hydroelectric power plants, will be registered on the platform of the Energy Exchange," he said.
According to Narmania, there are currently more than 100 electricity suppliers on the market, and their number will increase in the future as new hydroelectric power plants are being built.
"Deregulation and liberalization of the energy market will have a positive impact on the supply of both commercial and residential sectors, and will enable consumers to individually purchase electricity from the company that offers the most competitive prices and services," he said.
The Energy Exchange was established in December 2019 on a parity basis by Georgian State Electricity (GSE) and the Electricity System Commercial Operator of Georgia (ESCO) to perform the functions of the operator of the organized electricity market. The exchange, the main activity of which is the conclusion of bilateral agreements with market participants, will officially start operating in July 2021.
Electricity production in Georgia in 2019 amounted to 11.864 billion kWh, which is 2.3 percent less than in 2018.
Follow the author on Twitter: @Mila61979356