MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development, Genadi Arveladze discussed the ongoing and upcoming reforms in the energy sector of Georgia during the meeting with the Energy Community Secretariat Director, Artur Lorkowski. First Deputy Minister of Environment Protection and Agriculture, Nino Tandilashvili and the Head of Energy Reforms Department of the Ministry of Economy and Sustainable Development, Ana Gogoladze also participated in the meeting. The meeting was held was held in Banja Luka, Bosnia and Herzegovina, 2024 preceding country of the Energy Community, within the framework of the informal ministerial meeting of the Energy Community.

The Deputy Minister informed the director of the energy union about the current situation in the energy sector of Georgia and the progress of the reform in the field. Artur Lorkowski noted that the Secretariat of the Energy Community welcomes the launching of a day-ahead and daily electricity markets in Georgia on July 1, 2024. This is a key step towards market liberalization, so that in the future, when Georgia will be directly connected to the energy network of the EU member states, it will be possible for Georgia to participate in the single European electricity market. According to him, it is necessary for Georgia to continue taking necessary steps to open the European-style energy market and support renewable energy investments. Artur Lorkowski once again confirmed the readiness of the Energy Community to help Georgia in this process.

Attention was also focused on Georgia’s progress in the direction of energy efficiency and the importance of the Black Sea submarine cable project, which will connect the energy systems of Georgia and Romania, thus contributing to the strengthening the energy security of Europe and the South Caucasus region, the development of the renewable energy sector, and the growth of transit opportunities.

The meeting also discussed the fulfilling the commitment taken by Georgia in the direction of decarbonization.

It was noted that the parties will continue to cooperate to ensure energy security, sustainable development and consistent implementation of energy reforms.