“The increased [electricity] tariff is a precondition for higher investment and greater responsibility on the part of the company. Of course, against the backdrop of increased investment, the benefits that should reach ordinary consumers cannot be realized immediately,” said Grigol Mamiseishvili, Chairman of the Board of Directors of Energo-Pro Georgia, commenting on GNERC’s decision, which set the company’s annual investment volume at 200 million GEL.

Mamiseishvili noted that the company will actively start work to implement the decision.

“The National Regulatory Commission knows very well our network problems and the current very difficult situation. The increased tariff is a precondition for higher investment and greater responsibility on the company’s part.

Of course, in the context of increased investment, the benefits that should reach ordinary consumers cannot happen tomorrow. This will be a long and labor-intensive process. We are ready to allocate every GEL properly to improve network components, which will ultimately improve the current difficult situation.

We had extensive communication and many meetings. We discussed the investment environment and various tariff packages, including calculations. However, the decision has been made, was announced today, and we will actively begin its implementation,” said Mamiseishvili.

It is noted that at today’s GNERC session, it was decided that electricity tariffs for consumers in both Tbilisi and the regions will increase by 5 tetri. From April 1, tariffs for the commercial sector will also rise. According to Davit Narmania, the changes also relate to investment. Initially, Energo-Pro Georgia proposed annual investments of 300 million GEL, which was later adjusted to an average of 200 million GEL per year, totaling 1 billion GEL over five years.