Telasi energy consumption down 9.8%  amid pandemic

Telasi energy consumption down 9.8% amid pandemic

access_time2021-08-02 11:58:57

In 2020 the net profit of JSC "Telasi" is down by 619% compared to 2019 and amounted to GEL 72 million -  the financial report of JSC "Telasi" for last year says. Georgia’s one of the largest grid companies that is engaged in electricity distribution and selling, sold 2.476 million kilowatt hours of electricity worth GEL 405 million in 2020.

According to the Telasi annual report prepared by the auditing company EY, amid  the spread of  coronavirus in the country and a state of emergency, electricity consumption in 2020 decreased by 9.8% compared to the previous year. According to the document, it will take about 2-3 years for the company to reach the 2019 levels on condition  if the virus-related situation becomes controllable and the country's economy starts gradual recovery.

According to the EY report, revenues from electricity sales and network maintenance in 2020 amounted to GEL 411 139 thousand that is GEL 41 945 thousand less than in 2019.

In 2020 revenues   from the sale of electricity to communal-household customers reduced by GEL 391 thousand;

2. Due to the spread of the COVID-19, revenues  from the sale of electricity to commercial organizations and industrial consumers decreased by GEL 38 938 thousand.

3. Revenues from the sales of electricity to the public sector decreased by GEL 2,764 thousand;


4.Revenues from electricity transit increased by GEL 148 thousand.

It turns out that last year the proceeds from the sale of electricity amounted to 405 096 thousand GEL, which is 69 289 thousand GEL less than provided by the 2020 business plan of the society.

 It turns out that last year revenues  from the sale of electricity amounted to GEL 405 096 thousand that is GEL 69 289 thousand less than projected.

According to the report, in 2020 a total of 1 587 technological violations occurred during the operation of JSC "Telasi" electrical networks that is 14% more than in 2019.

The financial report shows that last year the actual repair costs  amounted to GEL 2 482.67 thousand  that is GEL 545.45 thousand less than planned.

The capital of JSC "Telasi" makes GEL 112 429 418 and 112 429 418 is usually divided into shares with a nominal value of GEL 1. In 2020, 27,577,837 ordinary shares of the company (24,529%), which were owned by JSC "Partnership Fund" (managed by the Ministry of Economy and Sustainable Development of Georgia), were sold to Best Energy Group Ltd.

From July 1 residential consumers and small enterprises of Georgia have been served by new electricity distribution company Tbilisi Electricity Supply Company (Telmiko) instead of Telasi,

AO “Telasi” is one of the largest grid companies in Georgia, which distributes and sells electricity in Tbilisi. The company is an electricity supplier for more than 600 thousand consumers. In August 2003 Telasi became a part of Inter RAO Group. The Inter RAO Group owns 75% of the shares, and about 25% of the shares are owned by Best Energy Group LLC.


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