Georgian National Energy and Water Supply Regulatory Commission has approved Wholesale Electricity Market Rules. The new regulation brings together the Day-ahead, intraday, Balancing and Ancillary Services Market Rules that ensure secure and reliable operation of electricity market and regulate electricity trade at the Energy Exchange. The rules apply to the market participants – power plant owners, large customers, traders and electricity suppliers. The above mentioned rules prohibit possible conflict of interest at the market and cross-subsidization.
The Day-ahead and Intraday Market Rules aim at creating legal framework necessary for development of the electricity competitive markets and establishing fair prices, as well as, promoting efficient generation and consumption. The rules introduce hourly electricity mechanisms that will enable customers to purchase electricity for hourly prices.
Balancing and Ancillary Services Market Rules shall regulate functioning of the electricity balancing ancillary services markets, define obligations of the transmission system operator, balancing service provider in relation to the electricity system balancing activities. As the consequence, a self-dispatching model will be implemented with an objective to plan and operate electricity system.
The rules have been developed in accordance with European legislation and approved on the basis of the Law of Georgia on Energy and Water Supply.