“The Minister of Economy and Sustainable Development of Georgia Levan Davitashvili spoke about the current trends in the energy sector of Georgia, the ongoing reforms for the development of the electricity market and issues of cooperation between the state and the private sector in this process at the event Georgia Electricity Market: Future Prospects,” - the Ministry of Economy and Sustainable Development of Georgia reports. 

The event was organized by TBC Capital and representatives of practically all parties working in the electricity market - public agencies and private businesses, financial and donor organizations, as well as the industry experts and the banking sector took part in it. The rapporteurs talked about such important issues as: the dynamics of electricity generation, price and consumption, market deregulation, the new industry support scheme, capacity auctions, world trends, connectivity with Europe - the Black Sea submarine project and others.

As Levan Davitashvili noted in his speech, Georgia has a great potential for electricity generation, however, it has not been fully utilized in terms of realization. Therefore, it is important to have a dialogue with the private sector, investors and developers in this process, including support mechanisms.

“The development of the Georgian electricity market and cooperation with the private sector in this process is particularly important in the light of the current trend of increasing electricity consumption in the world.

The Ministry of Economy is actively working on the development of the electricity market, including the legislative aspect, which will have a positive impact on the activities of the private sector, investors and developers. I think that more awareness of the population and also specific, encouraging mechanisms that will respond to their interests will be decisive in the process of implementing projects from renewable sources sooner,” - Levan Davitashvili stated.