Georgian Energy Exchange Conducts First Trade Amid Market Reforms

On July 1, the first transaction occurred on the Georgian Energy Exchange. According to the exchange's information, a total of 1,022 megawatt-hours (MWh) of electricity were traded, with a weighted average price of 126.43 GEL/MWh.

"The initial trading session was held a day prior, on July 1, for the physical delivery scheduled on July 24, 2024. The total volume of electricity traded was 1,022 MWh, at a weighted average price of 126.43 GEL/MWh," the Georgian Energy Exchange reported.

Following six postponements, Georgia launched the transitional model of its electricity market on July 1. This new model introduces day-ahead and intraday markets on a limited and voluntary basis, while deferring the mandatory hourly balancing and the start of the balancing and ancillary services market until July 1, 2025.

Initially, the exchange featured four participants, but this number has since grown to thirteen, including:

• JSC Energo-pro Georgia
• SS EP Georgia Generation
• Tbilisi Electricity Supply Company LLC
• SS Telasi
• Lilo-Mall LLC
• JSC State Electricity System of Georgia
• LLC Energy Developer Georgia
• Ritseula HPP LLC
• International Energy Corporation of Georgia LLC
• Svaneti Hydro LLC
• Hydro Georgia LLC
• Kasleti LLC 2
• Geoenergy Ltd.