„We made the absolutely right decision  not to raise electricity tariffs“-  Minister of Economy on litigation with  Inter RAO

„We made the absolutely right decision not to raise electricity tariffs“- Minister of Economy on litigation with Inter RAO

access_time2021-12-02 10:00:21

We believe  we made the absolutely right decision not to raise electricity tariffs, including for consumers in Tbilisi. We firmly hold this opinion now, despite the Stockholm International Arbitration Court partially satisfied the Inter RAO’s claim and obliged the Georgian government to pay compensation to the Russian company," Minister of Economy Natia Turnava says.

 According to the Minister, the tariff is set by an independent Energy Regulatory Commission, which makes decisions with the use of a transparent methodology, and Inter RAO's demand to increase the tariff has no grounds.


“For this reason the Ministry of Justice appealed against the decision of the Stockholm Arbitration and we’re insisting that our decision was legal and correct,” Natia Turnava notes.


As reported, the Stockholm Arbitration Court satisfied the claim of the Inter RAO company, which owns the power distribution networks in Tbilisi, and obliged the Georgian government to pay compensation in the amount of $ 80 million.


T he Russian company claimed that the Georgian  National  Energy  and Water Supply  Regulatory Commission  (GNERC) had forbidden to take into account the change in the exchange rate of the national currency in the tariff, as a result of which the losses of Inter RAO in Georgia were estimated at more than $ 100 million.

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