Energy Business Challenges in Georgia

Energy is the most important link for the Georgian economy, which is why with the development of energy business it is necessary to improve the energy sector, of course, to move from a monopolistic market to a healthy competitive market.
Energy consumption is increasing in Georgia, however, the generated energy that is in Georgia, can not meet the demand of the population and because of this energy is imported from neighboring countries. That is why it is very important to develop hydro resources, despite such importance, today in Georgia 22% is used in terms of hydro resources, in other countries, this number exceeds 90%.
The aim of the research is to determine the state of the energy business in Georgia, what support it needs, and what steps should be taken to support business entities, as well as how the opening of the energy exchange will affect the representatives of the energy business.
Qualitative and quantitative studies were selected as a methodology based on the specificity of the topic. During the qualitative research, the respondents answered several questions in the form of in-depth interviews, with the participation of professors of economics and representatives of this field while representatives of different genders and professions participated in the quantitative research.
The results of the research highlighted the main aspects that the energy business is experiencing, highlighted the challenges of the energy business, ways to overcome them, and all the positive and negative aspects that renewable energy will cause.
Due to Georgia's geographical location, it has the potential to fully utilize the renewable energy sources at its disposal, thus enabling energy business representatives to generate energy and put it up for sale on the energy exchange, which will ultimately reduce imports from neighboring countries.