kWh which was 12% of the total generation and 11% of the total consumption (in February 2023, the difference between the total generation and the consumption resulted in a deficit of 141 mln. [...] Figure 5 - Share of Enguri and Vardnili in Total Generation 100% 80% 60% 40% 20% 0% Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Feb 2023 Feb 2024 Enguri HPP Vardnili HPP Source: ESCO Overall, the total generation increased by 3% compared to February 2023 (Figure 6). [...] kWh ELECTRICITY MARKET REVIEW | Electricity Generation – Consumption – Trade Highlights Figure 8 - Electricity Consumption Growth (%, y/y) 20% 15% 13% 12% 10% 8% 5% 5% 2% 0% -5% -2% -5% -6% -10% -15% -20% Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Feb 2023 Feb 2024 Source: ESCO In February 2024, there was an import of 172.8 mln. [...] kWh ELECTRICITY MARKET REVIEW | Electricity Generation – Consumption – Trade Highlights Figure 10 - Exports by Year 450 400 350 300 250 200 150 100 50 0 Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Feb 2023 Feb 2024 Russia Azerbaijan Armenia Turkey Source: ESCO Electricity imports increased by 7.9% in February 2024, compared to January 2024 (Figure 11). [...] Figure 13 - Electricity Purchased / Sold Shares of Direct Contracts and Balancing Electricity 100% 80% 60% 40% 20% 0% Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Feb 2023 Feb 2024 Direct Contract Balancing Electricity Source: ESCO In February 2024, the weighted average price of balancing electricity was 15.7 tetri/kWh, which corresponds to an annual increase of 8.9% compared to February.
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ElecTRICITY MARKET REVIEW | Electicity Generation – cosumption – Trade HIghlights
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