On 1st February 2023, EU4Energy Governance Project, co-financed by the EU, brought together key stakeholders of the electricity market in Georgia (the national regulatory authority GNERC and the Georgian transmission system operator GSE) and Energy Community Secretariat experts for an online meeting to kick off technical assistance to Georgia in the adjustment of the imbalance settlement process in the balancing market.
Currently, the Georgian transmission system operator (TSO) GSE is conducting simulations of the balancing and ancillary service markets, the opening of which is foreseen on 31 March 2023. To support the timely launch of the national balancing market in Georgia and further improvements in line with the Energy Community acquis, the Energy Community Secretariat intends to provide technical assistance to support the Georgian TSO GSE and the national regulatory authority GNERC in reviewing the relevant market rules (with a focus on the imbalance settlement process) and propose adjustments (if and where needed) based on the experience from the simulation period, new electricity legislation and its implementation based on the best practices of EU Members States and Energy Community Contracting Parties.
During the meeting, participants discussed the central issues which shall be addressed under this technical assistance and agreed on the next steps for the successful project implementation.
The general objective of the imbalance settlement process is to ensure the system's balance efficiently and to incentivise market participants to keep and/or help to restore the system balance. The non-discriminatory, fair, objective and transparent imbalance settlement process will bring benefits to final customers through more accurate price signals and higher standards of services.
This publication was produced with the financial support of the European Union. Its contents are the sole responsibility of the Energy Community Secretariat and do not necessarily reflect the views of the European Union.
The EU4Energy Governance Project is co-funded by the European Union and implemented by the Energy Community Secretariat.