Ability of a Georgian Entity to Act on Turkish Market

The regulation defines a "market participant" as any entity acting on the market either as a buyer or seller, including a "Wholesale licensee." A Wholesale Company is defined as any legal entity engaged in the wholesale, import, export, trade of electrical energy and/or capacity and the sale of the same to eligible consumers. To participate on the Turkish market, a Georgian entity must obtain a Wholesale operation licensee and comply with all terms of the Electricity Market Import and Export Regulation. The entity must also be registered as a balance responsible party and comply with the requirements of the Balancing Regulation. A market participant may elect to join a Balance Responsible Group, but if not, they themselves are directly responsible for acts related to balancing and financial settlements. The Balancing Regulation requires that a Wholesale licensee "shall be registered as balance responsible party." A market participant may elect to join a Balance Responsible Group, and if not, they themselves are directly responsible for acts related to balancing and financial settlements. The regulation also requires that a Balance Responsible Group be financially responsible and capable of doing so. The Turkish market rules do not appear to limit participation to Turkish-owned legal entities, but rather require registration and compliance with applicable requirements of Turkish civil law. However, the Market Rules do seek to assure that parties are clearly identified, who will assume material scheduling and financial obligations. Participation in the Turkish market has other obligations, such as participating in day-ahead planning, which requires numerous detailed acts, decisions, evaluations, and interactions with the Market Operator. These actions must be effected in documents done in the Turkish language and are highly data intensive. The fact of differences in market organization, dispatcher responsibilities, and pricing of auxiliary services and short-term flows between Georgia and Turkey is one of the key issues that will need to be resolved in any practical agreements for closer cooperation with the Turkish market. The Turkish market pays very short-term marginal prices for actual volumes flowed in different very short-term periods, and balancing is done both physically and financially on those short intervals. The evolution of the Turkish market will shorten the current time intervals for balancing, which will require Georgian entities to adapt to new market conditions. The ability of a Georgian entity to act on the Turkish market will depend on its ability to comply with the requirements of the Turkish market rules and regulations, including registration, compliance with civil law, and participation in day-ahead planning. In conclusion, the ability of a Georgian entity to act on the Turkish market is a complex issue that requires careful analysis of the Turkish market rules and regulations. While there are no limitations on nationality, Georgian entities must comply with registration requirements and applicable requirements of Turkish civil law. The ability of a Georgian entity to act on the Turkish market will depend on its ability to adapt to new market conditions and comply with the requirements of the Turkish market rules and regulations.