The Georgian Energy Exchange has been established with the instruction and coordination of the Economy Ministry with equal co-participation of Georgian Electrosystem and Electricity System Commercial Operator (ESCO).
The electricity market project will help attract more investment in the energy sector, and by introducing the European model, the pricing process will become more transparent, which is the key to Georgia's energy stability.
The electricity market will begin to function in 2021.
"Thanks to the energy market project, investment inflows to the energy sector will increase, electricity tariffs formation process will become more transparent, European model will be established and this is an important factor for Georgia's power sustainability," Trend cited the Ministry of Economy and Sustainable Development as saying.
