Electricity generation in Georgia increased by 31% in nine months
Electricity generation in Georgia increased
Over the past nine months electricity generation in Georgia has increased by 31%. As for the first and second quarters, Georgia’s hydroelectric power plants have generated about seven million kilowatt-hours of electricity, ISET reports.
With winter approaching there is hope that the country will not need to import large amounts of electricity, the energy industry said.
This year will be good for the energy balance, and the share of imports in the total balance should not exceed 10-12%, energy expert Gia Arabidze told Business Formula.
For the export of electricity:
● in January-September 2022, Georgia sold a record amount of electricity;
● According to Saxstat, during nine months electricity was exported in the amount of $84,339,000, which is 468% more than in the same period last year;
● Turkey is the main export market;
● The average annual electricity export price increased by 16.4% in the first quarter [in dollars];
● and recorded a record growth of 171% in the second quarter;
● According to the second quarter, the price of electricity increased from 10 to 25 tetri [about $0.04-0.09].
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According to aggregate data for January-September, Georgia spent $34.7 million on electricity imports, although electricity was not imported in August and September.
Electricity is among the top ten export commodities with a 2.1% share of total exports, and Georgia has a surplus in electricity trade.