AYFB President: Manipulation with Numbers and Actions Generates Substantial Risks in Energy Sector

Electricity System Commercial Operator (ESCO) and Georgian State Electro system (GSE), the two state-owned founders of the Energy Exchange, have in practice monopolized the current information data in the energy sector and they constantly hide this information.

Indeed, non-transparent policy raises questions whether certain manipulations are practiced and whether corruption risks arise, Giorgi Kapanadze, president of the Association of Young Financiers and Businessmen (AYFB) told Business Partner.

“Over the past 4 months, AYFB has been taking constant efforts to obtain the information on contractual tariffs for imported electricity, but ESCO refers to the confidentiality of this information, while all importer companies, excluding the Russian electricity importer company, have proved that they have not asked ESCO to classify the information, Giorgi Kapanadze noted.

All importer companies, excluding the Russian electricity importer company, have noted that they have not asked ESCO to classify the contractual tariffs, but we could not obtain the mentioned information from ESCO for 4 months. Postponing the Energy Exchange inauguration has suspiciously coincided with this fact, while ESCO is one of the founders of the Energy Exchange. Naturally, this fact raises legitimate questions – why do they hide this information? Do they apply certain manipulations and are there any corruption risks?”, Kapanadze asked this question at Business Partner TV program.