Giorgi Pangani, a Commissioner of the Georgian National Energy and Water Supply Regulatory Commission (GNERC) participated in the regional energy conference held in Vienna, Austria and gave a speech at the panel discussion. During the speech, he addressed the ongoing reforms taking place in the energy sector of Georgia, highlighting the significance of establishing a regional market and discussing the potential benefits of integrating with the European energy network. Pangani underscored the importance of the Black Sea submarine cable project as a critical means of connecting to the European unified energy network.

“Georgia signed the Association Agreement with the European Union in 2014, committing to align its national legal framework with European Union legislation. The Association Agreement serves as a tangible mechanism to unleash the potential of EU-Georgia relations, with a particular emphasis on providing support for crucial reforms in the energy sector. Furthermore, in 2017, Georgia joined the Energy Community as a member, and the accession protocol of the Energy Community Agreement outlined the necessary measures to be implemented in the energy sector, aiming to establish a competitive energy market in Georgia. This landmark development set the stage for unprecedented reforms in Georgia’s energy sector.

In 2019, the Georgian Parliament passed a new law on Energy and Water Supply, which aligns completely with the energy legislation of the EU. GNERC has developed and approved a number of by-laws to facilitate the operation of the competitive market, ensure efficient market monitoring, and safeguard consumer rights. The undertaken initiatives are geared towards fostering competition within the energy market, attracting investments, promoting the utilization of renewable energy sources, and ultimately ensuring energy security.

It is worth noting that active discussions are taking place regarding the integration with the European energy network, particularly the connection of Georgia"s electricity network to the EU network through the Black Sea submarine cable. Through this project, Georgia holds the potential to emerge as an energy hub. The Black Sea submarine cable will serve as an essential infrastructure component, enhancing market competition, upgrading the energy infrastructure, facilitating the integration of the Georgian market into the EU network, and attracting investments”, - highlighted Giorgi Pangani.

The GNERC Commissioner elaborated on the fruitful collaboration between GNERC and energy sector agencies in the neighboring countries, emphasizing the importance of regional cooperation in the energy sector. Furthermore, he highlighted the strong partnership between GNERC and international organizations.

The meeting, hosted by the Council of European Energy Regulators (CEER) under the EU4Energy Phase II program, brought together representatives from government agencies, energy regulatory commissions, and energy sector companies of both European and Eastern Partnership countries. The regional conference aimed to facilitate the exchange of experience and information among the participants. The EU4Energy initiative is funded by the EU. The project implementers are the Council of European Energy Regulators (CEER), the International Energy Agency (IEA) and the Energy Community.