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Gas Price to Increase in Tbilisi

Natural gas price will increase by 7.8 Tetri to 53.972 Tetri per cubic meter in Tbilisi starting June 1, as per a May 27 decision by the Georgian National Energy Regulatory Commission (GNERC).

The Commission said the hike was necessary to ensure a “safe and reliable” gas supply to the capital.

Tbilisi Energy, the company supplying natural gas to the capital, had requested the rate increase, citing a GEL 25 million (USD 7.6 million) loss incurred over the past year and a half due to currency depreciation. The company said it has also demanded for months to calculate the gas price in national currency, to “protect the population” against price increase in case of exchange rate fluctuations.

Earlier, on January 3, the gas price also increased by 24 Tetri to GEL 1.1 for commercial users upon Tbilisi Energy’s demand.

The current gas tariff of 46.137 Tetri entered into force from January 1, 2020, and should have remained in force until the end of 2022.

The company Tbilisi Energy supplies the capital with natural gas from May 2019, serving about 1,5 million residents and 18,000 commercial users.

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