Import of Azerbaijani Electricity is Cheaper than Imports of Russian and Turkey Electricity

Galt & Taggart have published the Georgian electricity market report, under which imports of Azerbaijani electricity in 2020 were cheaper compared to imports of Russian and Turkish electricity.

The deal prices in 2020 were determined in the following way: Azerbaijani electricity was cheapened to Cent 4.2, Turkish electricity – Cent 4.3-4.5, Russian electricity – Cent 4.5-5.3, Galt & Taggart noted. According to the document, Georgia’s total consumption in 2020 constituted 12.1 terawatts, down 4.9% as compared to 2019. The downturn in electricity consumption was preconditioned by the socioeconomic restrictions amid the pandemic.

Amid the declining consumption, Georgia’s installed generation increased by 432 megawatts to 4.5 gigawatts. Despite this growth, the country cannot fully satisfy the domestic demand, because, in 2020, the electricity imports in total consumption constituted 12.6%. According to the report, Georgia imports electricity from three countries: Azerbaijan – 45.1%, Russia – 35.4% and Turkey – 19.5%.