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Forecasts of Electricity Consumption Rate are Declined

Forecasts of Electricity Consumption Rate are Declined

Ministry of Energy has reduced forecasts of electricity consumption rate.

According to Galt & Taggart, The Ten Year Network Development Plan (TYNDP) 2017-2027 was approved by Ministry of Energy. The annual consumption growth rate in the optimistic scenario is revised downward from 5.0% to 3.5%, which would result in 16.4tWh of electricity consumption in 2027.

The mentioned is envisaged by The Ten Year Network Development Plan (TYNDP) 2017-2027. Expected commissioning dates for several large HPPs (Khudoni, Nenskra, Oni) have been pushed back, resulting in certain infrastructural projects also being postponed.

Total investment over 2017-2027 is estimated at EUR 735.4mn, with 40% of that amount to be spent over the first three years. The previous edition of TYNDP featured total estimated investment of EUR 800mn, with the decrease largely attributable to projects already implemented in 2016 (500kv Marneuli S/S, 500kv Jvari S/S, etc.).