2024-07-01
Electricity Exchange was launched in Georgia
On July 1, the electricity exchange was launched in Georgia, marking an important step towards the target model of the electricity market.
The transitional model of the electricity market includes the introduction of day-ahead and daily markets in a limited and voluntary mode. Generation facilities and large consumers will be represented at the exchange except for the regulatory, large hydropower plants and traders. The market will operate in this form for one year. The implementation of the hourly balancing and auxiliary services market will become mandatory starting on July 1, 2025, with its operation ensured by the Georgian State Electrosystem.
After the launch of the energy exchange, it will be possible to attract more investments in the energy sector, and the process of forming electricity prices will become more transparent. The introduction of the target model of the electricity market will be an important factor for the energy sustainability of Georgia and long-term price stability.
