Electricity System Commercial Operator
|Headquarters:||N. Baratashvili str. 2, 0105 Tbilisi, Georgia|
|Date of foundation:||1 September 2006|
|Traded commodities and traded volumes in 2015:||
Total electricity: 11.2 TWh
Traded through direct contracts: 10.1 TWh
Sold through ESCO balancing market: 1.1 TWh
|Current number of employees (April 2016):||76|
|Annual report(s):||ESCO 2015 Annual report|
Electricity System Commercial Operator “ESCO” is designated by the law as the Market Operator in the electricity sector of Georgia, where the overall wholesale electricity trading takes place through the direct contracts signed between the sellers and buyers, while ESCO trades with the difference between the estimated volumes of the direct contract and actual transactions (i.e. Balancing Electricity). ESCO registers the direct contracts signed by the buyer and seller, maintains respective detailed database used to determine the electricity volumes delivered either through the direct contracts or through the balancing market in the given settlement period, hence, providing complete information about the supplies to the overall power system.
The legal form is the Joint Stock Company where the State Partnership Fund is the solely owner, while the management rights are retained under the Ministry of Energy of Georgia.