Domestic electricity consumption increased by 2.2% y/y in 1Q24. The growth was mainly driven by retail customers, with demand increasing by 4.7% y/y and accounting for 57.3% of total consumption. Notably, the volume of electricity supplied by Telmico saw a significant increase of 10.0% y/y, whereas EP Georgia’s supply rose slightly by 1.0% y/y. Meanwhile, the downward trend in consumption by direct consumers continued, with the volume consumed decreasing by 3.3% y/y in 1Q24.
Local generation increased by 6.7% y/y, while the volume of imports decreased by 27.0% y/y in 1Q24. This is due to the increase in hydro power generation by 41.2% y/y, thanks to abundant rainfall. As a result, the need for thermal power plants decreased and TPP generation in fell by 26.2% y/y, accounting for 30.9% of the total generation in 1Q24.
