TRANSITORY MEASURES TO BE IMPLEMENTED BEFORE SEPTEMBER 1ST 2022

ON FEBRUARY 28TH, 2022 GEORGIAN NATIONAL ENERGY AND WATER SUPPLY REGULATORY COMMISSION BY DECREE #5 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 actual go-live of relevant market segment 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; 
• No later than IDM Market launching date, submit to the Commission and post on its website IDM platform instruction.

GENEX IS NOT ALLOWED:

• To ask for information on solvency as defined in Art 54 of Day-ahead and Intraday Market Rules, before August 24th, 2022;
• To ask for confirmation for payment of registration fee in accordance with Art 12, para 4D of Day-ahead and Intraday Market Rules, before August 24th, 2022.

  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 August 1^st, 2022.

  THE FIRST TRADING DAY ON THE DAY AHEAD MARKET:

• For the physical delivery on September 1st, 2022, trade on Day- head market should be organized on August 31^st, 2022, 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 August 31^st, 2022, in accordance with Day-ahead and Intraday Market Rules.