Georgian State Electrosystem Presentation on Balancing Market Rules
At the working meeting held within the framework of the ongoing reforms in the energy sector, the employees of the Georgian State Electrosystem made a presentation on the rules of the electricity balancing and ancillary services market.The meeting was attended by the representatives of the Energy and Water Supply Regulatory Commission, GSE, electricity market operator, generation and distribution companies.
According to the license terms, Georgian State Electrosystem provides balancing and ancillary services market, calculates imbalance pricing and determines the amount of financial guarantees. GSE staff reviewed the main tasks and principles of the balancing and ancillary services market, the registration and qualification procedures of the person responsible for balancing electricity, periods of acquisition and financial settlement. Emphasis was placed on the important role of the balancing and ancillary services market in the operation of market operators.
With the introduction of the electricity balancing market, new opportunities for market integration and liquidity growth with neighboring countries will emerge. The investment environment will be improved, which will attract more foreign investment in the energy sector.