TBC Capital || Sector snapshot: Georgia’s electricity market in numbers

Electricity generation and consumption

In May 2024, annual electricity generation grew by 6.4%, totaling 1,411 GWh. Due to good hydrology, there was no need for thermal generation, which completely halted, while hydropower output increased by 6.6%, and wind generation decreased by 14.1%.

In May 2024, annual electricity consumption increased by 1.9%, totaling 1,050 GWh. Retail consumption increased by 1.6% annually, while direct consumers utilized 13.9% more electricity. In the case of Abkhazian A/R, electricity consumption decreased by 11.1%.

Electricity balancing price and cross border trade

In May 2024, the average weighted price of balancing electricity experienced annual growth of 35% and amounted to 4.44 USDc per kWh. However, the price decreased by 22% compared to April 2024 due to the absence of expensive thermal generation in the market.

In May 2024, Georgia exported 319 GWh of electricity to Turkey, Armenia, and Azerbaijan, with Turkey receiving the largest portion. Despite the high volume of exported electricity, export revenues are not as high as in the previous year because prices have stabilized in the Turkish market.