Georgian Energy Exchange to start operating in early 2022 – minister

Georgia Materials 9 December 2021 18:22 (UTC +04:00)
Georgian Energy Exchange to start operating in early 2022 – minister

BAKU, Azerbaijan, Dec. 9

By Maryana Akhmedova – Trend:

The Georgian Energy Exchange, which currently runs in a test mode, will be fully operational in early 2022, the Minister of Economy and Sustainable Development of Georgia Natia Turnava said at the USAID Energy Future Assurance Program event, Trend reports via the press service of Georgia's Ministry of Economy.

Natia Turnava addressed the members online and noted that Georgia’s energy sector is going through a significant period of reforms, which is partly due to Georgia's energy union agreement and the association agreement with the EU.

According to the minister, the main provisions of the design of the electricity market concept have been implemented, as well as the retail market for suppliers and consumers.

“Some 45 large industrial consumers have gained access to the open electricity market and became direct consumers, enabling them to purchase electricity at market prices,” Turnava said.

Georgia's energy sector aims to reduce investment risks to make it even more attractive to investors, the minister noted.

“One of the most important developments in Georgia’s sector is the development of the National Integrated Energy and Climate Plan, which sets the direction for energy development in Georgia, includes a number of different projects and activities that will be implemented over the next decade,” Turnava added.

The opening part of the meeting, which was held online, was also attended by Peter Wiebler, the USAID Georgia Mission Director, Levan Vepkhvadze, the Executive Director of the Georgian Business Association, Davit Tvalabeishvili, the Deputy Minister of Economy, investors in the energy sector, developers and representatives of various organizations.


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