Secretariat welcomes the launch of  day-ahead and intraday markets in Georgia 

The Energy Community Secretariat welcomes the successful launch of the day-ahead and intraday electricity markets in Georgia. GENEX held its first day-ahead auction for electricity delivery on July 1st, initiating a gradual process towards the liberalization of the electricity market in the country. The Secretariat notes that this process includes limitations concerning market access, transitioning to shorter settlement periods, incorporating balancing responsibilities, and ensuring adequate market participation. 

In December 2022, the Energy Community adopted the Electricity Integration Package, providing the legal framework for integrating the electricity wholesale markets of Contracting Parties into the European internal market. Georgia's day-ahead market development is a key step towards this integration, as it is a precondition for enabling the country to join the single day-ahead and intraday market in future, improving cross-border interconnection utilization, and providing a reliable price signal for renewable energy investments. For this integration to be successful, Georgia must proceed promptly with transposing and implementing the new electricity package. 

The Energy Community is committed to assisting Georgia in transposing and implementing the new Electricity Package, ensuring the necessary legal framework for market coupling and integration into the European single electricity market.