Georgia: Romeo Mikautadze, Deputy Minister of Economy and Sustainable Development, spoke about the ongoing electricity market reform at a sitting of the Parliamentary Committee on Sectoral Economics and Economic Policy.
The main issue on the agenda of the meeting was the fulfilment of the obligations under the Association Agreement in the energy sector between Georgia and the EU member states and the accession to the Treaty establishing the Energy Union, and the situation for 2022.
According to the Deputy Minister, no such large-scale reform has been implemented in the energy sector of Georgia so far.
The current reform of the electricity market envisages a qualitative change in the existing market model at both the wholesale and retail levels. According to him, as a result of this reform, competition in the electricity market will be gradually developed through the gradual opening of the market.
Romeo Mikautadze also noted that according to the reform, a market model should be established that will give the right price signals to both generation investors and consumers.
The new model of the electricity market is scheduled for September 1, 2022.