Georgian PM: gas and electricity tariffs influenced by global prices

Georgian Prime Minister Irakli Kobakhidze on Thursday said gas and electricity tariffs are influenced, among other factors, by global energy prices, expressing hope that existing tariffs can be maintained following ongoing consultations.

Speaking to journalists, Kobakhidze noted that the Georgian National Energy and Water Supply Regulatory Commission is scheduled to hold a meeting on Monday to decide on both gas and electricity tariffs.

“We need to review all factors, and based on this, the Commission will make a decision on Monday regarding both gas and electricity. We hope to be able to maintain the current tariffs and the rest will be determined through consultations,” the Prime Minister said.

Kobakhidze acknowledged there had been a risk of an increase in natural gas tariffs due to rising international prices. However, he stressed that by eliminating certain incorrect practices in the sector, the Government has significantly reduced this risk.

“There was a risk of a tariff increase for natural gas, but as a result of eliminating specific incorrect practices, we will, with a very high probability, be able to maintain the tariff. Given that international gas prices have increased, there was also a risk of a rise in domestic tariffs, but thanks to the steps we have taken, we will be able to keep gas tariffs unchanged,” he stated.

Regarding electricity tariffs, the Prime Minister said the Government would also make every effort to prevent increases, despite higher international prices.

“International electricity tariffs have increased as well, but against this background, we will use internal mechanisms to try to maintain current tariffs for both gas and electricity as much as possible,” Kobakhidze added.