Electricity prices in Georgia are likely to increase as a result of major investments and modernization within the energy sector, according to energy expert Davit Mirtskhulava. Speaking to BMG, he said that planned network rehabilitation, integration of new generation facilities and the development of renewable energy projects make tariff adjustments unavoidable.
Mirtskhulava noted that the greenlighted Black Sea underwater cable project and the need for improved reliability, security and sustainability all require substantial technological upgrades, which come with additional costs. “Rehabilitation of the network and integration of new generation capacities means the tariff will rise,” he stated.
The head of the energy regulator (GNERC), Davit Narmania, also confirmed that two main factors are pushing tariffs upward: necessary sector investments and high-priced electricity on the market. The commission is currently calculating the size of the increase and will announce its final decision on December 29.
