Deputy economy ministers: electricity tariff reduction is result of Gov’t’s correct economic, energy policies

Georgian deputy economy ministers Romeo Mikautadze and Vakhtang Tsintsadze on Thursday said the decrease of electricity tariffs for both household and non-household consumers by three tetri per one kWh was “a result of the Government’s correct economic and energy policies”.

The officials' statements followed today’s decision by the Georgian National Energy and Water Supply Regulatory Commission to reduce electricity tariffs starting next month.

• Energy regulator body: electricity tariff decreasing by 3 tetri starting January 1

The Georgian Government has been implementing “correct policy” by “consistent steps for years”, Tsintsadze noted in his comments on the matter, adding by these efforts the country maintained “a much higher” rate of economic growth compared to the other countries in the region “for the third year”, the Economy Ministry said.

It should be noted that the electricity tariff is an important component of the consumer basket, and therefore, the tariff reduction is a positive factor in terms of keeping inflation at the target level. On the other part, it will increase the population's purchasing power”, he stressed.

Tsintsadze also emphasised that the decision would reduce production costs for the private sector in the country, including small and medium-sized businesses and would, “accordingly”, increase the competitiveness of the Georgian business on both domestic and international markets.

In his turn, Mikautadze also hailed the Government's “correct, consecutive, result-oriented and development-oriented” management of the energy sector and noted that it had brought results, such as the rehabilitation of Enguri hydropower plant - the largest electricity producer in the country, replacing “more expensive” imported energy resources.

Mikautadze stressed the Government was planning to continue “the optimal utilisation of new renewable energy sources”.