kWh which was 9% of the total generation and 8% of the total consumption (in January 2023, the difference between the total generation and the consumption resulted in a deficit of 172 mln. [...] Figure 5 - Share of Enguri and Vardnili in Total Generation 100% 80% 60% 40% 20% 0% Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 Jan 2024 Enguri HPP Vardnili HPP Source: ESCO Overall, the total generation increased by 6% compared to January 2023 (Figure 6). [...] kWh ELECTRICITY MARKET REVIEW | Electricity Generation – Consumption – Trade Highlights Figure 8 - Electricity Consumption Growth (%, y/y) 40% 30% 20% 16% 10% 7% 8% 4% 0% -2% -1% -0.4% -10% -7% -20% -30% Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 Jan 2024 Source: ESCO In January 2024, there was an import of 160.1 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 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 Jan 2024 Russia Azerbaijan Armenia Turkey Source: ESCO Electricity imports increased by 48% in January 2024, compared to December 2023 (Figure 11). [...] Figure 13 - Electricity Purchased / Sold Shares of Direct Contracts and Balancing Electricity 100% 80% 60% 40% 20% 0% Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 Jan 2024 Direct Contract Balancing Electricity Source: ESCO In January 2024, the weighted average price of balancing electricity was 15.5 tetri/kWh, which corresponds to an annual increase of 6.9% compared to January 20.
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ElecTRICITY MARKET REVIEW | Electicity Generation – cosumption – Trade HIghlights
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