2020-09-03
Opening of Electricity Market Platform Simulation Training Sessions
Ucha Uchaneishvili, Chairman of the Management Board of Georgian State Electrosystem, delivered a speech at the opening of the training sessions on the electricity market platform simulation. The opening sessions, supported by the USAID Energy Program, were held at the Georgian National Energy and Water Regulatory Commission, attended by Deputy Minister of Economy and Sustainable Development David Tvalabeishvili, USAID-Georgia Deputy Mission Director David Hoffman, and heads of energy companies.
The purpose of the trainings is to prepare future participants in the electricity market,which will enable them to engage effectively in energy trading and develop the necessary skills through a demo version of the Bilateral Agreements (OTC) trading platform.Ucha Uchaneishvili noted in his speech that the introduction of the electricity balancing market will increase Georgia's energy potential as a regional hub, will create new opportunities for integration with neighboring countries' energy markets, and improve the investment environment, which will encourage more foreign investment.
The ongoing reform in the energy sector, by sharing best practices of EU standards, envisages the establishment of an open competitive market, development of renewable energy sources and strengthening of Georgia's energy network. Georgian State Electrosystem provides the operation of balancing and ancillary services market, calculates the imbalance fee and determines the amount of financial guarantees.
