(Alliance News) - Georgia Capital PLC on Monday noted that the Georgian National Energy & Water Supply has approved new tariffs for the investment firm's water utility business.
The tariffs in Tbilisi have risen to GEL0.5 for residential customers from GEL0.3, and GEL6.5 for legal entities from GEL4.4. The previous figures were for the regulatory period of 2018 to 2020.
The tariff increase is set to translate into a 38% rise in allowed water revenue in the upcoming three-year regulatory period, which took effect from Friday last week.
"I am pleased to see that GNERC continues to support the water utility business's capital investment plans and has increased WSS tariffs. The tariff revision contributes to the healthy growth of water supply revenues as well as demonstrates the transparency of Georgian regulatory framework and its alignment with EU principles," said Chair and CEO Irakli Gilauri.
Shares in Georgia Capital were down 1.9% at 530.00 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Georgia Capital (CGEO)