Contracts

Registration of Direct Contracts

According to the "Electricity (Capacity) Market Rules," approved by Order No. 77 of the Minister of Energy of Georgia on August 30, 2006, the registration of a direct contract is managed by the Electricity Market Operator and the Dispatch Licensee. A direct contract is a bilateral agreement for the purchase of electricity between a buyer and a seller (qualified enterprises), specifying the quantity, price, term, and other conditions of the electricity to be purchased. This contract is registered in accordance with the Market Rules.

A direct purchase contract for electricity can be entered into between qualified utilities or between qualified utilities and transmission or dispatch licensees authorized to engage in wholesale trading of electricity under these Rules.

The registration of a direct contract involves registering the contract application, which is based on the direct contract, by the Dispatch Licensee and the Electricity Market Operator. It also includes the registration of contracts and contract applications as outlined in Article 8 and Article 9¹ of the Market Rules. This process is recorded in the relevant registration journals, which may also be maintained as an electronic register, and involves assigning a registration number.