Looking at annual consumption and generation trends, from 2012-2016, it is clear that generation typically exceeded consumption. Consequently, the generation-consumption gap remained positive. However, in 2017 this trend reverted, and the electricity generated by local resources on the Georgian market was no longer enough to supply the local demand. As shown in Figure 1, the gap widened even further in 2018; with the negative gap increasing by 30% (from 344 mln. kWh in 2017 to 447 mln. kWh in 2018).

In January 2019, Georgian power plants generated 1011 mln. kWh of electricity (Figure 1). This represents a 0.3% decrease in total generation, compared to the previous year (in 2018, total generation in January was 1014 mln. kWh.) The decrease in generation on a yearly basis comes from decrease in hydro and wind power generation (-11% and -18%), more than offsetting the increase in thermal power generation (+22%).

On January 29, ISET was pleased to host Prof. Michael Beenstock for a seminar workshop. Prof. Beenstock is the author of ten books on topics including time series and spatial econometrics, macroeconomics, the global economy, and economic development, as well as writing more than 100 refereed journal articles.

Academic and research achievements aside, it is ISET’s community spirit that prompts alumni and visiting professors to recall their time at the institute fondly, and which also continues to attract BA and MA students hoping to become a part of the ISET family.

ISET prides itself on the diversity of its multi-national composition; faculty members have come from Germany, Israel, Norway, the United States, the United Kingdom, Ukraine, and Italy. The institute is therefore very happy to add Sweden to the list, with the arrival of Lotta Björklund Larsen, a Ph.D. holder from Stockholm University.