Telmiko and Telasi, electricity suppliers of Georgia’s capital Tbilisi, have published their 2022 activity report. According to the documentation, last year Telmiko's income amounted to GEL 676 million, which is almost twice as much as in 2021. The company's net profit increased sharply and amounted to GEL 93.4 million, which is GEL 42 million more than in the previous year.
The activity of Telmico is the supply of electricity, while the role of Telasi is the distribution of electricity. According to the financial report, in 2022, Telasi received income of GEL 211 million from electricity distribution which is GEL 30 million more than in the previous year, and the company's net profit amounted to GEL 78.8 million.
Tbilisi Electricity Supply Company ltd or Telmiko was founded in 2020. The company carries responsibility to supply electricity to end consumers in accordance with the legislation in force in the country.
As of December 31, 2021, the majority owner (75.471%) of the Company is Silk Road Holdings B.V. (Parent company). The Parent Company is controlled by Public Joint Stock Company Inter RAO (the Ultimate Parent Company). Public Joint Stock Company Inter RAO is controlled by the Russian Federation. The second owner of the company is Energy Company LLC (24.529%), according to the company's financial report.
Pursuant to the documentation, Telmiko's main expense item was the purchase of electricity, which last year amounted to GEL 268 million. The amount paid by the company to the distribution service operator (Telasi) amounted to GEL 200.7 million. Telmiko paid GEL 75 million for the transmission of electricity, while Energy Service Company payments amounted to GEL 39 million. In total, the company spent GEL 585 million on the purchase and distribution of electricity.
Telasi spent GEL 63 million on staff salaries, while Telmiko spent GEL 7 million, according to the financial report.
