JOINT PRESS RELEASE OF GENEX AND NORD POOL

GENEX and Nord Pool launch Georgian power market

Nord Pool, the European power market, together with the Georgian Energy Exchange JSC. (GENEX), has announced the successful launch of Georgia’s first day-ahead and intraday power trading market.

The go-live of the market, which opened and recorded its first trade in July, is the result of a cooperation agreement - with Nord Pool, a Euronext company, providing GENEX with power trading services including a range of key systems.

Commenting on the launch of the new market, Tom Darell, CEO at Nord Pool, said: “The team at Nord Pool has been working very closely with our partners at GENEX to help them develop a modern, efficient, transparent and secure energy trading capability. We are proud to bring our established heritage, expertise and technology to new markets across Europe.”

Irakli Galdava, Director General of GENEX, added: “This is great news for the Georgian energy market as we take another step towards a more liberalized approach. The successful introduction of day-ahead and intraday power trading in Georgia is extremely important for our energy sector. This new market presents a real opportunity, allowing market participants to trade on the GENEX platform for the first time.”

ENDS