First Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development Dimitry Kumsishvili discussed the prospects of Georgia’s energy market development with the representatives of the large energy companies – the Nord Pool and the Bluberries.
Current situation of Georgia’s electricity market and the prospects of its development were the main subjects of the conversation. As it was noted, these European companies have a vast experience in the management of the energy markets of different European countries and therefore, the relevant recommendations they can provide within the energy sector reform of the country will be of outmost significance.
As it was noted at the meeting, Georgia will sign a Memorandum of Cooperation with these companies and within one year, they will provide the Ministry of Economy and Sustainable Development with the certain recommendation allowing the establishing of well-developed electricity market and transforming the country into the regional hub of electricity trade.
The Nord Pool AS is the largest plyer at the European market. The company operates in Norway, Denmark, Sweden, Finland, Estonia, Latvia, Lithuania, Germany and the Great Britain and is the nominated operator of the Electricity Market of Europe (NEMO) in 15 countries. In addition, the Nord Pool AS serves for the Bulgarian and Croatian markets. Over 80% of electricity consumed on the Scandinavian market is traded via the Nord Pool. The Nord Pool AS was the world’s first multinational energy exchanger. The Nord Pool offers so called “a day earlier” and “internal daily” markets. At this point, the Nord Pool AS has 380 members in 20 countries, including public and private power producers, investment companies, banks and financial institutions.
The Bluberries GmbH was established in Munich, in 2011 in order to provide consultancy services for energy industries.
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