The European Union-funded Twinning Project in theGeorgian National Energy and Water Supply Regulatory Commission (GNERC) - "Green Energy Regulation in Georgia" was completed. The closing ceremony of the project was openedby the GNERC Commissioner, project leader from Georgia, Giorgi Pangani and project leader from the EU member state, DietmarPreinstorfer. They highlighted the achievements and effectiveresults of the project.

The GNERC Chairman Davit Narmania, First DeputyMinister of Economy and Sustainable Development of Georgia, Romeo Mikautadze and Deputy Minister of Foreign Affairs ofGeorgia Teimuraz Janjalia made keynote speeches at the event.

According to Davit Narmania, the GNERC Chairman, a number of successful EU funded projects were implemented in the GNERC. 

During previous 10 years, a number of major projects wereimplemented in the GNERC with the European Union funding, which helped us to improve the activity of the Commission invarious directions. Within the framework of the twinning project, the GNERC has developed tariff methodologies based on whichtransparent and fair tariffs are set, market monitoring and auditrules were developed, a cost-benefit analysis of smart meteringimplementation was carried out and a draft regulatory strategysupporting smart metering was developed, digitalization strategywas drafted. In addition to the twinning projects, other projects arealso implemented in the GNERC with the European Unionfunding. Among them, the Technical Assistance and InformationExchange Instrument (TAIEX) is being launched, which will helpthe GNERC implement and regulate electricity battery storage, having a positive effect in terms of improving the reliability of theelectricity grid. I hope that our cooperation within the frameworkof the EU projects will continue and be even more effective," saidDavit Narmania.

Giorgi Pangani, the GNERC Commissioner and the projectleader from Georgia, positively evaluated the progress of the 4th twinning project in the GNERC and emphasized the role of theEuropean Union in the development of the Georgian energy sector.

A fundamental reform is being carried out in the energysector of Georgia, which aims at bringing the Georgian legislationin line with that of the European Union. The GNERC is constantlyimproving regulations to ensure the most attractive regulatoryenvironment for both consumers and companies operating in theenergy sector. In this process, it is very important to share theknowledge and experience of leading European organizations. I would like to thank the European Union for such an opportunity, which the GNERC takes advenatage of with the help of twinningprojects and other instruments," said Giorgi Pangani.

As per Dietmar Preinstorfer, the project leader from the EU member state, the project has made significant progress in all aspects.

"Leading this project was a great honor for me. I collaborated with exceptional experts from various organizations. We successfully shared knowledge and experience on network tariffs, demand side management, and the regulation of renewable energies. I would like to extend my gratitude to the GNERC's management and all the experts involved for their valuable contributions", said Dietmar Preinstorfer.

At the event, the attendees were addressed by Thomas Mühlmann, the Ambassador of the Republic of Austria to Georgia, Ernst Peter Fischer, the Ambassador of the Federal Republic of Germany to Georgia, and Katalin German, the Head of the Program Department of the European Union Delegation in Georgia. They acknowledged that the twinning project, funded by the European Union, was successfully completed, and significant results were achieved with the support of the GNERC.

The objective of the 4th project, "Green Energy Regulation in Georgia," which was funded by the European Union with 1,500,000 Euros, was to aid the development of renewable energies by aligning Georgia's existing regulatory framework for electricity and natural gas markets with the European Union standards. The duration of the project was 27 months, which was implemented by the Austrian Energy Regulatory Authority (E-Control) in cooperation with the German Federal Network Agency (BNetzA). The direct beneficiary of the project was the Georgian National Energy and Water Supply Regulatory Commission (GNERC).