The full opening of Georgia’s energy exchange has been postponed once again until July 1, 2027, according to a new resolution by the Government of Georgia, which came into force on June 26.
According to the resolution published in the Legislative Herald, the Georgian State Electrosystem is now expected to fulfill several technical and regulatory tasks by 2027, including:
- Establishing, testing, and simulating a balancing market platform with potential participants;
- Creating a registration system for entities responsible for balancing and forming the appropriate registry;
- Developing a unified accounting and settlement database for the wholesale electricity market.
In parallel, the Commercial Operator of the Electric Power System (ESCO) is tasked with:
- Developing, testing, and simulating tools for organizing wholesale public services;
- Preparing for full-scale operations of the wholesale market alongside other market operators.
- From July 1, 2027, the balancing market operator will take on full responsibilities, including:
- Running the balancing and ancillary services market;
- Purchasing balancing energy and reserves;
- Conducting financial settlements;
- Managing the register of balancing service providers;
- Implementing a fully operational unified accounting database in accordance with legal regulations.
The ESCO will also begin providing wholesale public services as a designated operator.
Sector representatives told BM.GE that the postponement reflects a lack of readiness among market participants, particularly concerning hourly balancing obligations, which were cited as a significant technical and financial challenge for many companies.
The delay, while not unexpected in industry circles, raises further questions about the pace of Georgia’s energy market liberalization, which has already been delayed multiple times.
