BAKU, Azerbaijan, August 2
By Tamilla Mammadova – Trend:
Net profit of Georgia's leading electricity provider - "Telasi" - was 619 percent down in 2020 compared to 2019, and amounted to 72 million lari ($23.1 million), Trend reports via the company's financial report.
Georgia’s one of the largest grid companies that is engaged in electricity distribution and selling, sold 2.476 million kilowatt hours of electricity worth 405 million lari ($130.2 million) in 2020.
As reported, amid the spread of coronavirus in the country and a state of emergency, electricity consumption in 2020 decreased by 9.8 percent compared to the previous year. According to the document, it will take about 2-3 years for the company to reach the 2019 levels on condition if the virus-related situation becomes controllable and the country's economy starts gradual recovery.
Revenues from electricity sales and network maintenance in 2020 amounted to 411.13 million lari ($132.2 million) that is 41.9 million lari ($13.4 million) less than in 2019.
In 2020 revenues from the sale of electricity to communal-household customers reduced by 391,000 lari ($125,735);
Due to the spread of the COVID-19, revenues from the sale of electricity to commercial organizations and industrial consumers decreased by 38.9 million lari ($12.5 million).
Revenues from the sales of electricity to the public sector decreased by 2.76 million lari ($887,543);
Revenues from electricity transit increased by 148,000 lari ($47,592).
In 2020 revenues from the sale of electricity amounted to 405.09 million lari ($130.2 million) that is 69.28 million lari ($22.2 million) less than projected.
“Telasi” is one of the largest grid companies in Georgia, which distributes and sells electricity in Tbilisi. The company is an electricity supplier for more than 600,000 consumers. In August 2003 Telasi became a part of Inter RAO Group. The Inter RAO Group owns 75 percent of the shares, and about 25 percent of the shares are owned by Best Energy Group LLC.
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