Legislative Tendencies of Europeanisation of the Georgian Electricity Market
Keywords:
Liberalization of Electricity Market, harmonization, electricity wholesale market, opening of electricity market, target model of electricity market, competition of the electricity market, physical trading with electricity, financial trading, organized market, stock exchange, bilateral agreements, Association Agreement, Energy Community.Abstract
Fundamental change of the Georgian Electricity Market structure and transition to qualitatively new model, emerged necessity of correct perception of new regulation of electricity sector and its proper usage. On the one hand, mentioned model was established with the purpose to facilitate development of competitive market. The new law created possibility to conduct trading with electricity on organized markets (day-ahead and intraday), as well as based on long-term bilateral agreements. New actors appeared on the market. At the same time, strict liability measures were defined for market participants. Development of new model of Georgian electricity market is related to signing of the Association Agreement with the EU and afterwards – accession to treaty establishing Energy Community. Hence, we should search for mechanisms, implementing renewed Georgian energy legislation, in the European legislation.
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