MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development Genadi Arveladze took part in the informal ministerial meeting of the Energy Community. In his speech, Arveladze focused on Georgia's aspirations in European structures and noted that since 2017, when Georgia became a full member of the Energy Union, it clearly confirmed its obligation to harmonize national energy legislation with the EU directives and regulations.

The Ministerial was held in Banja Luka, Bosnia and Herzegovina, 2024 preceding country of the Energy Community, and was attended by high-ranking representatives of the European Energy Community member states and the European Commission, as well as the Energy Union Secretariat and the President of the Council of the European Union, Hungary. The Georgian delegation was also represented by Nino Tandilashvili, the First Deputy Minister of Environment Protection and Agriculture, and Anna Gogoladze, the Head of the Department of Energy Reforms of the Ministry of Economy and Sustainable Development.

Genadi Arveladze focused on the ongoing reforms in the country's energy sector, in particular, in the direction of the liberalization of the electricity market. As the Deputy Minister noted, following the decision of the Government of Georgia, the electricity exchange market has been launched in Georgia from July 1, 2024, which is an important step forward towards the target model of the electricity market. The deputy minister noted that after the full implementation of the energy market, the hourly price of the electricity will be established, and the European model will be introduced, which is an important factor for Georgia's energy sustainability and integration into the European energy market. Arveladze thanked the Energy Community for its assistance in the reform of the energy sector.

In his speech, the Deputy Minister focused on major energy projects, including the strategic and regional importance of the Black Sea submarine cable project. According to Arveladze, the this large infrastructure project will directly connect Georgia with the energy network of the European Union, which will contribute to the country’s reconciliation and further deepen our cooperation. The cable will not only strengthen energy security, but will also stimulate the implementation of new energy projects in Georgia and the export of green energy to the EU countries, which, in turn, will contribute to the sustainable development of the sector, and the attraction of technologies and investments to the sector.

The Deputy Minister also spoke about the process of separation of transmission system operators. According to him, in close cooperation with the Energy Community, they are actively working on relevant legislative changes that will confirm the settlement of the issue.

Genadi Arveladze also touched upon the ongoing process fulfilling the obligations assumed within the framework of the association agreement and membership of the Energy Union in connection with the implementation of the energy efficiency policy. He drew attention to the laws on "Energy Efficiency" and "Energy Efficiency of Buildings" and noted that until 2020, the energy efficiency issues were not regulated by legislation.

Genadi Arveladze also drew attention to the fulfilment of commitments undertaken by the Georgian government in the direction of decarbonization.

Within the framework of the informal ministerial, Genadi Arveladze held a meeting with the Energy Community Secretariat Director, Artur Lorkowski.