As result of a tender held in the scope of the World Bank Wholesale Electricity Market support project, on the 12th of February, 2002 Georgian Wholesale Electricity Market was transferred to an International Consortium headed by Iberdrola and including IPA, a UK energy consultancy and OMEL the Spanish market operator, under the Management Contract.

GWEM is managed by the General Director and the Executive Board, which consists of the following members: Generation Licensees, Transmission Licensees, Dispatch Licensees, Distribution Licensees, General Director of the Wholesale Market, representative of the Ministry of Fuel and Energy of Georgia, Ministry of Economy, Trade and Industry, Ministry of Finance.

For today the key issues for the Wholesale Electricity Market are:
· Increase money collection level up to 70%
· Supply of electricity based on the Bank guarantees
· Establishment of the equality principle - Electricity only for those who pay for it
· Development of the computerized billing system
· Preparing electricity energy system for the real market relationships and reform the Wholesale Electricity Market as Electricity Exchange market.

The main target of our organization is to increase effectiveness and gradually develop competition in the electricity generation, transmission, dispatch, distribution, import, and export and customer spheres. With its performance and activities Wholesale Electricity Market seeks to create an environment to encourage private investments and to establish the reliable, fair and stable relationships among licensees, also it secures sustainability of the whole energy system.