Domestic electricity consumption increased 12.3% y/y in May 2018 and 7.7%y/y in 5M18. The main drivers of consumption growth were the consumption of eligible consumers and distribution licensees. Eligible consumers’ almost doubled (+89.9%y/y) their consumption in May 2018, accounting for 18.7% of domestic consumption. This growth can be explained by: 1) Georgian Manganese electricity consumption growth by 54.0%y/y; 2) Addition of 2 new companies (GFDC Georgia and Geo Servers) to the group of eligible consumers. Consumption by distribution licensees was up by 8.2% y/y in May 2018, as consumption of new commercial subscribers fully compensated the reduced consumption caused by reallocation of 2 above mentioned large companies into different category.
Electricity exports were interrupted by the emergency situation on Enguri HPP. As a result, total exports in May 2018 were 23.4% below the planned level, but remained flat y/y. A 82.3% out of 200MWh total exports were directed to Turkey (+95.5%y/y), while the rest was exported to Armenia (13.5% of total exports) and Azerbaijan (4.2% of total exports). Electricity exports accounted for 16.6% of electricity supplied to the grid.
Electricity supply mix differed from historic trend in May 2018 due to the accident on Enguri HPP, which caused unplanned deficit in the system compensated by imports, thermal generation and abolished exports.
