2019, Georgia’s power deficit will reach
a record high - Galt & Taggart study says.
According to the report, energy consumption grew less than expected - only by 2%, while electricity generation at hydroelectric power plants was down by 9.7% due to climatic conditions that significantly increased energy shortages. Despite the low growth in consumption, the deficit has grown by 80, 5% and $29.6 million and by the end of the year this figure is expected to double.
In 8 months exports fell by 50% and amounted to only 2.6% of total energy consumption. Turkey accounts for 47% of the total exports, Armenia - 25%, Russia- 24% and Azerbaijan- 4%.
The decline in exports is directly associated with the increase in consumption and the deficit in the local energy market as consumption is growing much faster than electricity production.
At the same time, the cost of exported electricity increased by 15.7% due to the diversification of energy markets.
Georgia’s Ministry of Economy forecasts that the import of electricity will amount to 1.6 TWh by the end of the year, which is 9% more than in 2018.
A sharp increase in imports by 212.8% in 2017 was caused by a two-week shutdown of the Enguri HPP for repairs, in 2018 imports increased because of an increase in consumption, and in 2019 an increase was cause by a reduction in energy generation due to bad weather conditions.
According to the Ministry, imbalances between production and consumption of electricity are growing in Georgia, if new power plants are not built, the country's dependence on imports from Russia and Azerbaijan will grow annually.