MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

First Energy Exchange was established in Georgia with the main aim to sign bilateral agreements, prepare, organize and coordinate the events needed for the formation of a sectors on a daily basis and subsequently, daily markets and their establishment as a market operator. 

The Georgian Energy Exchange has been founded with the instruction and coordination of the Economy Ministry with 50%-50% co-participation of Georgian Electrosystem and Electricity System Commercial Operator (ESCO).

The Energy Exchange represents a neutral, unbiased and transparent organization acting as an operator of organized electricity markets. The exchange ensures an establishment of daily markets and operation though software services of Nord Pool Consulting Company. 

Introduction of free, competitive and hourly energy markets of electricity is part of the reforms that Georgia is to implement after it joined the Energy Community. Thanks to the energy market project, investment inflows to the energy sector will increase, electricity tariffs formation process will become more transparent; the European model will be established and this is an important factor for Georgia’s power sustainability.

The electricity market will launch operation in 2021 and will include the establishment of a day earlier market and balance sheet mechanism.