Georgia's Energy Sector - Electricity Market Watch | 9M24

Electricity balance: In 9M24, 11.8 TWh of electricity was supplied to the grid, out of which 11.3 was local generation, and 0.5 TWh were imports. 
Out of these 11.8 TWh, 10.3 TWh was consumed locally at the wholesale level, 1.0 TWh was exported and 0.5 TWh was lost during transmission in the high voltage grid.

Supply: Hydro generation increased by 7.2% y/y to 9.5 TWh due to both abundant rainfall and efficient operation of regulating HPPs. The increase in the hydro generation, coupled with decreased exports caused reduction of thermal power plant’s generation and kept imports at the minimum level.

Domestic consumption of electricity returned to increasing trend mainly explained by the revival of the crypto-mining and metallurgy sectors. In total, domestic consumption of electricity increased by 5.4% y/y to 10.4 TWh in 9M24. 

Export: The decrease in both export volume (1.0 TWh, -28.8% y/y) and export price (USc 4.7, -28.1% y/y), caused export revenues to halve to US$ 49.0mn. 

Trade balance: Georgia remained a net exporter of electricity in 9M24. Net export was 0.6 TWh or US$ 45.2mn. 
The price of electricity in Georgia increased by 7.9% y/y to USc 5.6 /kWh. The highest share in the formation of balancing electricity is still held by PPA stations.

Market news: The pre-construction guarantee requirements for certain renewable energy projects have been eliminated. Meanwhile, activity on the energy exchange remains minimal.