The Energy Community Secretariat regrets the delay in the opening of Georgia's day-ahead, balancing, and ancillary services markets, which was originally scheduled for March 31, 2023, but has been postponed until July 1, 2023, according to a resolution adopted by the Government of Georgia. The postponement was due to the need for additional preparation time to ensure the markets' efficient functioning.
The organized electricity markets are an essential component of developing a competitive and transparent electricity market in Georgia, which will facilitate efficient resource use, promote technology development, and determine the success of the recently introduced auction mechanism for renewable energy promotion.
The Secretariat calls for the quick removal of all barriers and finalization of activities required for the market opening and stands ready to assist Georgia in the timely completion of each remaining task.
Although the delay is a setback for Georgia's efforts to create a competitive and transparent energy market, the Secretariat remains optimistic that the markets will open on July 1, 2023, as planned. The benefits of a competitive electricity market, including efficient technology introduction, renewable energy development, and other advantages, are widely recognized and make the opening of these markets crucial for Georgia's energy sector development.