Economy
Posted: 1 week ago

AYFB’s Address to Economy Minister: Non-transparent Environment May Destruct Energy Sector

In its special address, the Association of Young Financiers and Businessmen (AYFB) urges Georgian Economy Minister Natia Turnava to ensure a transparent environment in the energy sector and start improving the current heavy situation.

“Ms. Natia, transparency problems have extremely sharpened in the energy sector and the current unhealthy environment inflicts irreversible damage to the field and the economic and political development prospects of the country, as well.

The Association of Young Financiers and Businessmen (AYFB) still faces transparency problems in the energy sector and this factor may bring destructive outcomes to the entire field. Namely, over the past several months, we have been making efforts to get detailed information on financial flows in the sector, construction of high-voltage transmission infrastructure, electricity imports tariffs (the so-called contractual prices), and free access to various types of analytical indicators. However, regretfully and surprisingly, the state offices demonstrate absolutely inadmissible attempts of avoiding responsibility by giving unclear answers.

Despite many public addresses, for approximately 6 months, we have multiply asked Electricity System Commercial Operator (ESCO) to receive the information on 2016-2021 detailed tariffs of electricity imports (the so-called contractual tariffs), while this information was publicized many times by private importer companies. ESCO hides Russian electricity imports tariffs and this circumstance provokes many questions. So far, we could not get information from Georgian State Electro system (GSE) on the ongoing and coming high-voltage transmission infrastructure projects. Notably, the Prospector’s Office has entered GSE to investigate the mentioned issues. Substantial problems exist regarding the Georgian Energy Exchange project too and our organization has spread many statements, because the vitally important reform may be postponed endlessly again and again. Based on the above-mentioned, Mrs. Natia we urge you to substantially explore and resolve the sharpest problems in the energy sector and provide the highest transparency standards in the sector because the current practice and policy by the state-owned companies will inevitably bring disastrous outcomes.

We reaffirm that AYFB backs the irreversible development of Georgia’s energy sector. Therefore, we are ready for an efficient partnership with the sector, but, reciprocal adequate approaches are not seen. Therefore, we reassure you that our statement should be considered as the addresses made by allies, not by am ambusher organization. Therefore, we urge again all decision-making bodies to ensure the free access to any information in the energy sector and provide the highest transparency standards”, the AYFB statement reads.