Zurab Noghaideli: Open Market Guarantees Energy Sector Development

“Electricity system is not only a technical field. This is the huge business and the trade is a very important component”, Ex-Prime Minister of Georgia Zurab Noghaideli, currently, member of ELGreeen energy company’s supervisory board noted. The open market is one of the key preconditions for the energy market development, he said.

“The market will become more transparent. The Government has already taken the decision to establish the Energy Exchange. Consequently, the competition will sharpen in terms of electricity imports and electricity trade. The Georgian Energy Exchange will launch operation in July 2021 and the so-called Day Head Market will be also created. This is real progress. At the same time, we should be a little bit cautious, because Georgia’s electricity system remains deficient and it is of crucial importance to know whether the market is financially efficient for clients”, Noghaideli said.

This refers to direct consumers and enterprises, not population, and this is a very important factor for creating new job places and maintaining stable product prices, he explained. “The Energy Exchange will justify because we can receive electricity from 4 various sources even in winter deficient period. The competition determines everything and this factor encourages us, because the direct consumers will offer the most competitive tariffs to purchase electricity at the Exchange”, Zurab Noghaideli said.