Mikheil Botsvadze - "ENERGO-PRO Georgia" was unfairly fined again by the Regulatory Commission

02 May, 2024
"Unfortunately, the highest financial fine was again imposed on the network company included in the JSC "ENERGO-PRO Georgia Holding". We consider the decision to be unequivocally unfair and unjust. Of course, we will appeal it at the court, according to the established procedure, and we are completely sure that as a result of an objective review, the fine will definitely be canceled," says Mikheil Botsvadze, chairman of the board of directors of "ENERGO-PRO Georgia Holding".
"In general, the approaches of the Georgian National Energy and Watersupply Regulatory Commission are already very worrying and thought-provoking for us. In particular, concerning fines, it is significant that for the last 11 years, the company was fined twice with a total amount of GEL 30 000. And for the last 11 months, the company has already been sanctioned for the 3rd time by GEL 225 000.On the other hand, it should be emphasized that another noteworthy process, at the request of the Regulatory Commission, a draft law has already been initiated, according to which the maximum amount of the financial sanction is planned to increase from 75 to 500 thousand GEL. Accordingly, we get the following picture, due to unknown reasons, the application of financial fines has increased dramatically, fines are unfair and inadequate, it is planned to increase the amount of financial sanctions by 7 times. It is significant that for such violations that as if were found in our case, there is no financial sanction of a similar size (500 thousand GEL) neither in Georgia nor in case of the regulators of European countries" - says Mikheil Botsvadze. According to him, despite the unfair and discriminatory attitude, a number of hindering factors, attacks and financial crises experienced for the past years, the company is not changing its approaches at this stage.
“We continue to invest as usual and improve the quality of our services, because we realize the importance of "ENERGO-PRO Georgia" for the energy industry as we represent one of the largest European investors and employers in the country," - said Mikheil Botsvadze, Chairman of the Board of Directors of ENERGO-PRO Georgia Holding.