01
May
2020
The consequences of COVID-19 on tourism and in the industrial and service sectors have been discussed broadly recently. However, little has been said about the current and future implications on the Georgian power sector. The worldwide pandemic has already had and is still expected to have, quite significant implications on both the demand and supply sides of the electricity market. Although at this stage, we cannot estimate the exact scale of the effects, it is possible to represent a general theoretical framework of the existing and potential impacts.
21
April
2020
In March 2020, Georgian power plants generated 867 mln. kWh of electricity. This represents an 11% decrease in total generation, compared to the previous year (in March 2019, the total generation was 974 mln. kWh). The decrease in generation on a yearly basis comes from the decrease of 64% in thermal power generation more than offsetting the increase of 30% in hydro and 7% in wind power generation.
16
April
2020
Beyond its impact on the healthcare system, the COVID-19 pandemic via economic shocks has already reached labor markets throughout every economy. As of 1 April 2020, ILO estimates indicate a substantial rise in global unemployment, leading to 6.7% decline in working hours in the second quarter of 2020, which is equivalent to 195 million full-time workers.
24
March
2020
As the novel coronavirus COVID-19 outbreak continues to spread around the world and has been declared a global pandemic by the World Health Organization, the next global economic recession is no longer an “if” or even a “when” event. Unfortunately, it is already upon us. In just the past few days.
23
March
2020
In February 2020, Georgian power plants generated 851 mln. kWh of electricity. This represents a 9% decrease in total generation, compared to the previous year (in February 2019, the total generation was 939 mln. kWh). The decrease in generation on a yearly basis comes from a decrease of 13% in hydro, 9% in wind, and 5% in thermal power generation.
