The government’s decision to waive nearly GEL 1 billion in fines for energy companies was critical for the sector’s survival, according to Giorgi Mirtskhulava, Managing Partner of Bemon. Speaking on the TV-program Analytics, he described the move as “absolutely correct,” saying the relief was “as necessary as air for the sector.”
Mirtskhulava thanked the Prime Minister, the Ministry of Economy, and Georgian State Electrosystem, noting that the issue was the result of long-standing systemic problems rather than the fault of a single party. He also pointed to cases where inexperienced or under-resourced investors obtained project memorandums without the capacity to implement them, contributing to the accumulation of fines.
The decision, announced on December 10, provides the cancellation of accumulated penalties with a strict condition: companies must meet renewed deadlines. If obligations are violated again, both new fines and previously forgiven penalties will be reinstated.
Prime Minister Irakli Kobakhidze said the move aims to remove one of the main barriers to energy sector development—long-standing debts in the form of fines—while ensuring strict discipline going forward. He stressed that the state will remain firm toward any future failures to meet obligations or pay dues to the budget.
