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ISET Economist Blog

A blog about economics in the South Caucasus.

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Jun
19

Seasonal Effects and COVID Lockdown Combined Close the Generation-Consumption Gap in April

THE GAP CLOSES In April 2020, total generation and consumption nearly balanced (944 mln kWh of generation and 941 mln kWh of consumption), with power generation exceeding consumption by only 3 mln. kWh (corresponding to 0.3% of total generation: Figure 1). This occurred due to the simultaneous decrease in total consumption (7%) and total generation (2%). Interestingly, over the same period, wind power generation increased by a remarkable 23% compared to April 2019. One year before, in April 2019, the difference between total generation and consumption ha...
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May
01

The Implications of COVID-19 on the Georgian Power Market

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...
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Apr
03

The Generation-Consumption Gap Keeps Increasing. What Could or Should Be Done About It?

Looking at the consumption and generation trends of the past year, it is evident that Georgia is an electricity importing country during most months, with consumption almost always exceeding domestic generation. The only exceptions over the last 12 months were May and June, when the generation-consumption gap briefly became positive, reverting to the negative again in July. This is quite a dramatic change from how the country’s generation-consumption gap looked back in 2010, when the country exported almost seven times more electricity (1524.3 GWh) than ...
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Mar
06

Is Climate Change Threatening Winter Tourism in Georgia? – Part 2 – Adaptation Measures

Georgian winter resorts have finally started their long-awaited season in February 2020, after a month and a half of poor snow. In our previous blog we discussed the possible climate change development scenarios over the rest of the century, and revealed the need for better understanding and implementation of adaptation measures. However, more still needs to be said about the expected effects of climate change on the economic viability of resorts and their possible adaptation strategies. Figure 1 shows that, over the last 13 years, the average depth of s...
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Feb
07

Is Climate Change Threatening Georgian Winter Tourism? – Part 1

This year the winter season started later than usual in nearly all Georgian ski resorts (except Goderdzi) due to a lack of snow. Given the heated international discussions on climate change and global warming in recent years, the lack of snow in Georgian ski resorts has raised questions concerning the future economic viability of winter tourism in the country. This is hardly an unexpected development as even the World Tourism Organization recognizes that mountain tourism is especially vulnerable to the impacts of climate change (UNWTO, 2015). Unforeseen ...
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Nov
08

Georgian Energy Security: Reflecting on the September Power Market Data

After facing a generation deficit during the month of August, Georgia continued to experience a decrease in power generation. In September 2019, generation decreased by 3% compared to September 2018 and by 19% compared to August 2019. Georgian power plants generated 821 mln kWh of electricity while consumption of electricity in the local market was 972 mln kWh. Compared to August, electricity consumption decreased by 12%. Even though consumption decreased substantially during the month of September (at least partially due to lower demand for air conditio...
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