25.06.2021

TRANSITORY MEASURES TO BE IMPLEMENTED BEFORE JANUARY 1st, 2022

ON JUNE 24TH, 2021 GEORGIAN NATIONAL ENERGY AND WATER SUPPLY REGULATORY COMMISSION BY THE DECREE #16 CHANGED THE TRANSITORY MEASURES TO BE IMPLEMENTED IN THE ELECTRICITY SECTOR (DECREE #58, NOV12, 2020)

The decree defines the idea, content, and timeline of and responsible entities for transitory measures to be implemented in the electricity sector, including wholesale and retail electricity markets. According to the decree, transitory measures should be implemented by:

- Day-ahead and Intraday market (Exchange) operator;
- Balancing and Ancillary Services Market Operator;
- System Operators;
- Wholesale Public Service Obligation Organization.

GENEX IS ALSO RESPONSIBLE:

From April 1st until December 31st, 2021 to organize exams at least once per three months in order to qualify trade representatives prescribed in the Day-ahead and Intraday Market Rules. The exact date of an exam should be published on the GENEX webpage at least one week prior to the exam;
To register market participants and publish the list and relevant identification codes of registered participants on its webpage.

GENEX IS NOT ALLOWED:

To ask for information on solvency as defined in Art 54 of Day-ahead and Intraday Market Rules, before December 24, 2021;
To ask for confirmation for payment of registration fee in accordance with Art 12, para 4D of Day-ahead and Intraday Market Rules, before December 31, 2021.

OBLIGATIONS FOR ELECTRICITY UNDERTAKINGS:

Electricity undertakings that are obliged to trade on the Exchange in accordance with Electricity Market Model Concept Design, should be registered as Day-ahead market participants in accordance with Art 12 of Day-ahead and Intraday Market Rules, before December 17th, 2021;
The above-mentioned undertakings, in accordance with the procedure provided for in Chapter 3 of the Balance and Ancillary Services Market Rules, are obliged to apply to the electricity transmission system operator (electricity transmission licensee) no later than October 1st, 2021, for being registered as BRP or as a member of the balancing group. Electricity transmission licensee) is obliged to confirm the qualification of the candidate and complete the registration procedure within the timeframes specified in Articles 12-14 of the Balancing and Ancillary Services Market Rules.

THE FIRST TRADING DAY ON THE DAY AHEAD MARKET:

For the physical delivery on January 1st, 2022, trade on Day- head market should be organized on December 31st, 2021, in accordance with Day-ahead and Intraday Market Rules.
Electricity undertakings that are obliged to trade on the Exchange in accordance with Electricity Market Model Concept Design, should submit sell or buy orders no later than December 31st, 2021, in accordance with Day-ahead and Intraday Market Rules.
For the first trading day, GENEX should implement all measures, including those related to collaterals, defined in Day-ahead and Intraday Market Rules and GNERC decree on Transitory Measures.