In June 2022, Georgian power plants generated 1,485 mln. kWh of electricity. This represents a 12% increase in the total generation compared to the previous year (in June 2021, the total generation was 1,323 mln. kWh).
In May 2022, Georgian power plants generated 1,461 mln. kWh of electricity. This represents a 20% increase in the total generation compared to the previous year (in May 2021, the total generation was 1,221 mln. kWh). The increase in the generation on a yearly basis comes from a rise of 20% in hydropower generation, respectively, more than offsetting a 9% decline in wind power generation.
Russia’s invasion of Ukraine has profoundly affected nearly every aspect of the global economy, from food and energy security to supply chains and financial markets. The World Bank (June 2022) estimates that the 2021 5.5% rebound global growth is therefore expected to drop to 2.9% y/y in 2022.
In the third and the fourth quarters of 2021, Georgian power plants generated 3,766 mln. and 3,479 mln. kWh of electricity, respectively. This represents a 27.3% and 34.1% increase in total generation compared to the corresponding periods of the previous year (in 2020, the total generation in Q3 was 2,958 mln. kWh and 2,594 mln. kWh in Q4).
During the Russia-Ukraine the EU has become a clear example of how substantial reliance on a single country to satisfy energy needs can threaten nations’ economic development, and how challenging the task of achieving energy security is while substantially depending on a single country in key energy products.