The Electricity System Commercial Operator “ESCO” is designated by law as the electricity Market Operator of Georgia, where the overall wholesale electricity trading takes place through direct contracts entered into between sellers and buyers and the Power Exchange (GENEX). ESCO takes care of the difference between the estimated volumes of the direct contracts and the Power Exchange and the actual transactions (i.e., balancing electricity) and provides settlement. ESCO registers market participants and the direct contracts entered into by the buyers and sellers, maintains a detailed database to determine the electricity volumes delivered either through direct contracts or through the balancing market in a given settlement period, hence providing complete information about the supplies and uptake in the overall power system.
ESCO is a Joint Stock Company with the LEPL “National Agency of State Property” as the sole owner.
