AFBA Addresses PM to Publish Tariffs for Imported Electricity

The Association of Young Financiers and Businessmen has addressed the Prime Minister of Georgia, Irakli Gharibashvili, with a request to publish the tariffs for imported electricity.

"Dear Prime Minister,
We address you publicly to draw your attention to one of the most topical and interesting issues. In particular, it concerts the problem of transparency of information by state structures in energy sector.

Due to incomprehensible reasons, ESCO avoids publishing information about imported electricity tariffs. In particular, the electricity market operator makes the decision to purchase electricity according to the offered day, night, and weekend tariffs by importing companies, which is the correct and non-alternative approach. However, we should also mark out, that information is only published when according to the average weighted price. It is also worth mentioning, that similar practice is highly vague and leaves a lot of room for manipulations and incorrect conclusions. As a consequence, analysts and the public is not allowed to fully understand the picture and make a correct analysis.

Mr. Prime Minister, we believe that the incomplete disclosure of information on imported electricity tariffs by ESCO is another manifestation of the problem of public accountability and transparency.

As you know, this problem is acute in the hydropower sector of Georgia today and we are sure that if ESCO does not change its attitude towards transparency, the same problem will arise in the case of imported electricity. We also want to conclude, that publishing the information concerning imported energy prices in a distorted manner raises suspicions of involvement in corruption and vague transactions. Even the most effective approach to avoid such interpretations is to increase the quality of transparency.

It is vitally important for the importing process of electricity to become 100% transparent so that the interested public can have access to the data and to know why this or that importing company was selected. In turn, ESCO will finish the replication of lies and we will avoid manipulations by various business groups and public.", writes AFBA.