Georgia's Energy Sector - Electricity Market Watch | 1H24

Domestic electricity consumption increased by 2.6% y/y in 1H24. The growth was driven by increased demand from retail (+4.9% y/y) and direct (+4.9% y/y) consumers. There is a decreasing trend of consumption in the region of Abkhazia (-5.6% y/y). Notably, the increase in direct consumption is the result of the revived activities in crypto-mining and metallurgy.

Local generation increased by 3.9% y/y, while the volume of imports decreased by 23.9% y/y in 1H24. This is the result of the growing hydro generation (+13.5% y/y), supported by abundant rainfall. As hydro generation increased, TPP generation decreased by 26.3% y/y in 1H24 and amounted to 15.9% of the total generation. The exports stood at 757 GWh, increasing by a negligible 0.1% y/y.