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“Under the leadership of the First Deputy Minister of Economy and Sustainable Development of Georgia, Romeo Mikautadze, a discussion was held with the heads of electricity producing and large consumer companies on the innovations related to the opening of the Georgian electricity market and energy market reform,” - the Ministry of of Economy and Sustainable Development of Georgia reports.
According to the agency, the chairman of the Georgian National Energy and Water Supply Regulatory Commission (SEMEC) Davit Narmania, director of the energy exchange Irina Milorava, representatives of the Georgian Energy Development Fund and the operators of the state electricity system and electricity market also participated in the meeting organized by the Georgian Business Association.
"The ongoing reform of the electricity market qualitatively changes the current model. Such a market model should be established, which will give the right price signals to both generation investors and consumers. Thus, it is important that by the time the market is launched, the positions of all its participants should be as close as possible. Of course, the opening of the market will have challenges, but I am sure that the preparatory work carried out so far, intensive cooperation with potential market participants, will minimize them. Launching the market will increase the sustainability of the country's electric energy sector and will positively affect its security and competitiveness," said Romeo Mikautadze.
Reportedly, within the framework of the meeting, the target model of the electricity market, its concept and enforcement mechanisms were discussed. The conversation touched on the market of bilateral agreements, the adaptation of the existing bilateral agreements to the new model, and the principles of the day-ahead and daily market were analyzed in detail.
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18/07/2025