David Narmania, Chairman of the Georgian National Energy and Water Supply Regulatory Commission (GNERC) made a speech at the 45th International Conference of the International Association for Energy Economics (IAEE). The GNERC Chairman participated in the panel discussion and made a presentation on the topic – “Geopolitical Risks and Energy Security – Georgia’s Outlook”.

“Considering the existing geopolitical situation, energy security is of utmost importance for Georgia. This encompasses ensuring the continuity and quality of energy supply at affordable prices, addressing both short-term and long-term perspectives. Given increasing demand, this implies developing new energy sources and infrastructure, optimizing pricing, and diversifying the energy system. When supervising the security of electricity supply, the Government of Georgia, in cooperation with GNERC and other state bodies, takes measures to ensure a safe and reliable supply of electricity to final consumers. A transparent and stable regulatory framework for electricity activities is established, and the functions and responsibilities of electricity market participants are clearly defined.

On the first of July, in a few days, Georgia will launch its new electricity market. The opening of the energy exchange is a pivotal step in the current reform process. It is important to ensure energy stability, security, and market liberalization based on these principles”, - said David Narmania.

The 45th International Conference of the IAEE is underway in Istanbul, Turkey. Organized by Bosphorus University, the conference is attended by the heads of prominent energy and economic organizations from various countries.