Zurab Noghaideli: Azerbaijani Electricity Imports Cheapened in February Again

Azerbaijani electricity imports were the cheapest in February again, Zurab Noghaideli, member of the supervisory board of Elgreen, Azerbaijani electricity importer company noted.

“In February, the country imported 413.7 million kw/h, including 258 million kw/h from Russian Federation, up around 90% year on year, 148.8 million kw/h from Azerbaijan and 6.9 million kw/h from Turkey. Noteworthy that Russian electricity was fully directed to the Russia-invaded Abkhazia, amid rehabilitation works at Enguri HPP. In this case, neither the state budget nor ESCO has paid a penny”, Zurab Noghaideli said. In February, as compared to January 2021, Inter-RAO reduced imports price to Cent 3.5, 3.7, and 7.8 (weekend, night, and daytime prices), he said. “The averaged price of electricity imports from Turkey constituted Cent 4.85, while imports from Azerbaijan amounted to Cent 4.4. Thus, the best price was offered Elgreen.

From the very beginning, ESCO planned to simultaneously import electricity from Turkey and Russia, as the alternative sources to Azerbaijani electricity, but the fact is that we have offered the best price – Cent 4.4, the lower price compared to Russian electricity tariffs. Furthermore, the last months have shown that Turkey has replaced Russia as our competitor on the Georgian market. Russian electricity is so expensive that it is not considered a serious alternative anymore”, Zurab Noghaideli said.