On 29 June 2017, energy market participants were invited to attend a round table discussion about market monitoring in Georgia in the framework of the Twinning project Strengthening capacities of the Georgian National Energy and Water Supply Regulatory Commission (GNERC) in Regulatory Cost Audit and Market Monitoring, funded by the European Union with a budget of € 1 million.
During the event organized at the premises of GNERC in Tbilisi, Mr. Johannes Mayer, Director of Competition and Regulation, Chief Economist at E-Control, stated that in the framework of the Energy Community Membership Georgia is obliged to implement the EU regulatory framework. Directive 72/2009 clearly states that National Regulatory Authorities have the duty to monitor the market thus they can request the submission of any relevant information from electricity undertakings. The monitoring of market conditions, market participants’ compliance with the rules and of market functioning allow regulatory authorities to better understand the market and consequently to create a tailor-made regulatory framework. All market participants including final consumers will receive benefits, such as improved transparency, security of supply, efficient market functioning etc.
Mr. Clemens Wagner-Bruschek, Senior Economist at E-Control presented the recommendations for market monitoring implementation in Georgia with focus on data collection, legal framework, obligations for the parties, market monitoring indicators. The representatives of invited undertakings were actively involved in the discussions and asked questions about the Austrian and European approach.
Market participants will have one more opportunity to present their recommendations and suggestions for market monitoring in July 2017 at a public consultation event.
The Twinning project Strengthening Capacities of the Georgian National Energy and Water Supply Regulatory Commission (GNERC) in Regulatory Cost Audit and Market Monitoring is funded by the European Union with € 1 million; its project duration of 21 months will end in October 2017. The project partners are the GNERC, E-Control (Austria) and NCC (Lithuania).