MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development Natia Turvanava took part in the Energy Conference which was organized by the Bank of Georgia and the GALT & TAGGART and was supported by the Ministry of Economy and Sustainable Development.

Natia Turnava thanked the organizers for inviting to the conference and noted that such meetings with business sector will continue since the business should have full information on the reforms in the field of energy in Georgia.

“The first stage of deregulation of energy sector in Georgia will start from the next month when a part of large industrial consumers will have to buy electricity at the free market. Deregulation will be implemented step by step, which will allow market players to adapt to the innovations. We will help all customers to overcome their challenges,” – Natia Turnava said. At the same time, as she said, deregulation is a clear message for investors willing to invest in the energy sector of Georgia, especially in manufacturing facilities. “This will be an important stimulus for the private investors to invest in the energy market to sell more volume of energy in Georgia and in the development of their own energy generating resources to support Georgia’s development of the energy independence” – the Deputy Minister noted.

According to Natia Turnava, deregulation of the market will enable the Government to provide more protection mechanisms for household consumers and small businesses that remain in the regulatory sector.

“We are implementing the European standard energy market in Georgia, so we have developed new approaches and support schemes that are more flexible and market-oriented. However, no reform will be successful if the public and its active part - business will not support it. Therefore, the dialogue between us will be permanent in the course of the reform” – the Deputy Minister noted.

Irina Milorava, a Chairperson of the Energy and Water Supply Regulatory Commission, also made a report at the conference.

Two panel discussions were held at the Energy Conference, where the impacts of the planned changes in the energy sector, new mechanisms of support for renewable energy sources and their expected impact on the investment environment were discussed.