As of July 30, 2024, there was a total of 11,500 MWh electricity traded on the exchange, - according to the Galt&Taggart.
According to the document, the average price per MWh is still GEL 126.43. As of the market participants, it is likely that this price will increase in the next trading sessions.
On July 1, 2024, after being postponed for six times, the Georgian Energy Exchange (GENEX) started operating. The market will become fully functional after a phased implementation. At this stage, trading is voluntary and the imbalance system does not apply. Initially, four participants were registered on the exchange, which later increased to 13. Nevertheless, during the first three weeks, no deal was made on the exchange. As the market participants explained, the prices offered by the buyer and the seller were slowly approaching each other. This is understandable, since the first transaction on the stock exchange can be perceived as a kind of benchmark for prices in the short term.
On July 23, the first transaction took place on the exchange. 1,009 MWh electricity was sold for the consumption of July 24. The average price per MWh was GEL 126.43 (US$ 44.56), equivalent to 12.64 Tetri (4.5 USc) per kWh. The parties to the deal are not public on the exchange, although the company itself announced that the selling party in the first historic trade was EP Georgia Generation.
