ESCO News
The Electricity System Commercial Operator participated in the General Assembly meetings of the "Association of European Energy Exchanges" (EUROPEX). ESCO's Deputy General Director, Alexander Papiashvili, and the Head of the Department of International and Investor Relations, Tamar Tsurtsumia, delivered a presentation on the development of Georgia’s electricity market and the opening of the Power Exchange. EUROPEX positively evaluated the transitional model presented by ESCO for the Exchange's opening.
From August 20, 2024, the Electricity Market Operator has registered the “Georgian Building Group Betoni” LLC to take part in the wholesale trade as Direct Customer, in accordance with the “Electricity (Capacity) Market Rules”.
In July 2024, the quantity of balancing electricity, purchased (sold) through ESCO was 125 606 342.5 kWh, which represents 8% of total delivery to the grid in mentioned month. The cost of balancing electricity has made up GEL 19 456 915.1.
◼ - The electricity sold through the direct contracts
◼ - Balancing electricity
In July, the Weighted Average Price of balancing electricity per kWh made up 15,6159665 Tetri, while the price of balancing electricity of the deregulated hydro power plants was 2.412 Tetri.
From August 2024, the registration of direct contracts and contractual applications, by the Electricity Market Operator and Dispatch Licensee, is not carried out in physical form, but electronically, through the "Electronic Portal for Registration of Contracts" on the website of the Electricity Market Operator.
From July 31, 2024, the Electricity Market Operator has registered the “Shtigen Group” LLC to take part in the wholesale trade as a Wholesale Supplier of Electricity, in accordance with the “Electricity (Capacity) Market Rules”.
From August 1, 2024, the Electricity Market Operator has cancelled the registration of “Hydroenergy” LLC (In part of Akhatani HPP) as a Small Power Plant and in accordance with the “Electricity (Capacity) Market Rules”, it is no more considered as a wholesale trade participant.
In June 2024, the quantity of balancing electricity, purchased (sold) through ESCO was 163 289 272.8 kWh, which represents 11% of total delivery to the grid in mentioned month. The cost of balancing electricity has made up GEL 24 089 199.3.
◼ - The electricity sold through the direct contracts
◼ - Balancing electricity
In June, the Weighted Average Price of balancing electricity per kWh made up 14.7403672 Tetri, while the price of balancing electricity of the deregulated hydro power plants was 2.412 Tetri.
Please be informed, that changes to the Standard Conditions of Direct Contract on
Selling and Buying the Balancing Electricity and Guranteed Capacity Sale made by the the Decisions N23/2, N23/3 და N23/4 of 27 June 2024 of Georgian National Energy and Water Supply Regulatory Commission have been registered by Electricity Market Operator and Dispatch Licensee in accordance with the legislation.
The Electricity System Commercial Operator is delighted to announce the opening of Georgia's first Power Exchange. After extensive preparatory efforts, Georgia's electric energy sector has launched the Power Exchange today, on July 1, 2024, with the transitional model proposed by ESCO.️ From today onwards, voluntary trading of electricity on the Exchange is now possible.
From July 1, 2024, the Electricity Market Operator has registered the “Georgian Energy Exchange” JSC to take part in the wholesale trade as the Exchange Operator, in accordance with the “Electricity (Capacity) Market Rules”.
