Deputy Economy Minister, energy sector representatives discuss market opening, reform

Georgian Deputy Economy Minister Romeo Mikautadze on Wednesday met heads of electricity producer and consumer companies to discuss the anticipated opening of the domestic electricity market and its reform.

The Ministry of Economy of Georgia cited Mikautadze as telling the meeting the market should be ensured to provide the “right price signals” to both investors in electricity generation and energy consumers. 

Of course, the opening of the market will cause challenges, but I am sure that the preparatory work carried out so far, [and] intensive cooperation with potential market participants will minimise them”, the Deputy Minister said.

He added launching the market would increase the sustainability of the country's electric energy sector and “positively affect its security and competitiveness”.

Enabling trading of electricity, the domestic market model was originally scheduled to launch on March 31, before the opening was later postponed until July 1 to allow for additional preparations.