Figure 3 - HPP Generation by Type 1,500 1,200 900 600 300 0 May 2017 May 2018 May 2019 May 2020 May 2021 May 2022 May 2023 May 2024 Regulatory HPPs Seasonal HPPs Small HPPs Source: ESCO As for thermal power generation, there was no generation in May 2024 (Figure 4). [...] Figure 5 - Share of Enguri and Vardnili in Total Generation 100% 80% 60% 40% 20% 0% May 2017 May 2018 May 2019 May 2020 May 2021 May 2022 May 2023 May 2024 Enguri HPP Vardnili HPP Source: ESCO Overall, the total generation increased by 6% compared to May 2023 (Figure 6). [...] kWh ELECTRICITY MARKET REVIEW | Electricity Generation – Consumption – Trade Highlights Figure 10 - Exports by Year 400 350 300 250 200 150 100 50 0 May 2017 May 2018 May 2019 May 2020 May 2021 May 2022 May 2023 May 2024 Russia Azerbaijan Armenia Turkey Source: ESCO Electricity imports increased by 20.4% in May 2024, compared to April 2024 (Figure 11). [...] Figure 13 - Electricity Purchased / Sold Shares of Direct Contracts and Balancing Electricity 100% 80% 60% 40% 20% 0% May 2017 May 2018 May 2019 May 2020 May 2021 May 2022 May 2023 May 2024 Direct Contract Balancing Electricity Source: ESCO In May 2024, the weighted average price of balancing electricity was 12.4 tetri/kWh, which corresponds to an annual increase of 45.7% compared to May 2023. [...] Figure 15 - Cost of Guaranteed Capacity 20 16 12 18.04 8 16.45 16.01 15.85 14.34 14.46 4 9.12 0 May 2017 May 2018 May 2019 May 2020 May 2021 May 2022 May 2023 May 2024 Source: ESCO The electricity import prices in May 2024 were 6.50 ¢, or 17.66 tetri per kWh (Figure 16).
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ElecTRICITY MARKET REVIEW | Electicity Generation – cosumption – Trade HIghlights
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