F i g u r e 5 - Share of Enguri and Vardnili in Total Generation 100% 80% 60% 40% 20% 0% Feb 2015 Feb 2016 Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Enguri HPP Vardnili HPP Source: ESCO Overall, total generation increased by 29% compared to February 2021 (Figure 6). [...] kWh ELECTRICITY MARKET REVIEW | Electricity Generation – Consumption – Trade Highlights Fig u r e 1 0 - Exports by Year 450 400 350 300 250 200 150 100 50 0 Feb 2015 Feb 2016 Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Russia Azerbaijan Armenia Turkey Source: ESCO In February 2022, electricity imports decreased by 12% compared to January 2022 (Figure 11) Electricity exports decreased by. [...] F i g u r e 1 3 - Electricity Purchased / Sold Shares of Direct Contracts and Balancing Electricity 100% 80% 60% 40% 20% 0% Feb 2015 Feb 2016 Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Direct Contract Balancing Electricity Source: ESCO In February 2022, the weighted average price of balancing electricity was 19.7 tetri/kWh, which corresponds to an annual increase of 26% compared to Febr. [...] Fig u r e 1 7 - Import Prices by Countries 25.00 22.41 22.26 20.00 14.83 14.56 13.48 15.00 14.23 13.68 13.90 13.21 12.99 13.40 12.35 10.87 10.00 5.00 3.38 2.08 0.40 0.33 - - - - - - - - - - - - - - - 0.00 Feb 2015 Feb 2016 Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Russia Azerbaijan Armenia Turkey Source: ESCO/Geostat In February 2022, the electricity export price to Turkey stood at 7.6. [...] F i g u r e 1 8 - Export Prices by Countries 25.00 22.87 18.56 20.00 17.82 17.52 15.42 15.75 15.00 10.00 5.00 - - - - - - - - - - - - - - - - - - - - - - - - 0.00 Feb 2015 Feb 2016 Feb 2017 Feb 2018 Feb 2019 Feb 2020 Feb 2021 Feb 2022 Source: ESCO/Geostat Russia Azerbaijan Armenia Turkey 12 tetri/kWh ELECTRICITY MARKET REVIEW | Market Concentration 2.
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ElecTRICITY MARKET REVIEW | Electicity Generation – cosumption – Trade HIghlights
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