“Last year, the highest consumption volume was recorded on December 8, reaching 17.2 GW, which is 3.5% or 577 MW higher than the previous peak. Meanwhile, generation amounted to 16.59 GW, exceeding this figure by 1486 MW or nearly 10%. The electricity deficit was covered by imports from the Russian Federation,” reported Aitjanov.
According to the head of KEGOC, the projected balance for 2025-2031 anticipates a significant electricity deficit, potentially reaching 4.8 GW by 2031. However, in 2024, the Ministry of Energy approved an action plan for the development of the electricity sector. Its implementation is expected to result in a surplus of 9.1 GW of electricity by 2035.
Aitjanov added that during the upcoming autumn-winter period, the projected balance of the Unified Electric Power System of Kazakhstan will experience a deficit in both electricity generation and capacity.
“The anticipated peak electricity load of 17.6 GW and generation of 16.8 GW will result in a shortage of 0.8 GW, which will be compensated by electricity imports, including from the Russian Federation,” emphasized Aitjanov.
The draft order from the Minister of Energy proposes increasing the maximum tariffs for electricity for several generating companies, which include enterprises co-owned by Vladimir Kim, Timur Kulibaev, Alexander Klebanov, and Alexander Mashkevich.
“Applications have been submitted to adjust the maximum tariff for electricity production. The adjustment is related to the increase in basic costs associated with generating electricity that are not dependent on power-generating organizations, specifically fuel (including gas and transportation, with prices expected to rise from July 1, 2024), wages, and repair work,” states the justification for the need to increase electricity maximum tariffs.
Additionally, the Ministry of Energy has received applications to establish maximum tariffs for electricity from three new energy-generating organizations in the republic. Consequently, the current group of power-generating organizations will be supplemented by these three new entities, for which maximum tariffs will also be set in the draft order.
The new order will be in effect from February 1, 2025
As clarified by the Ministry of Energy, as a result of the tariff increases, the cost of electricity purchased by the single buyer, the “Renewable Energy Support Settlement and Financial Center” (part of the Ministry of Energy, previously included in KEGOC), will be approximately per kWh. The retail price of electricity will depend on the markup from energy supplying organizations and the cost of transportation. The public discussion of the amendments will continue until January 22.
Specifically:
For Group 1 (“Ekibastuz GRES-1” LLP, a subsidiary of “Samruk-Energo”), the tariff will rise to 9.50 tenge per kWh starting February 1 (which was 8.27 tenge per kWh in 2024, and according to the current order, this tariff will have increased from 7.32 tenge per kWh in 2023 for the entire year of 2025).
For Group 2 (“Eurasian Energy Corporation” JSC, part of the Eurasian Resources Group, with co-owners including the Ministry of Finance of the Republic of Kazakhstan - 40%, Alexander Mashkevich, and the Ibragimov family - 20.7%, and Patokh Shodiyev - 18.6%), the maximum tariff will increase to 8.48 tenge per kWh from the current 7.98 tenge (this tariff was not supposed to increase from the 2024 level for 2025).
For Group 3 (“Ekibastuz GRES-2” JSC, a subsidiary of “Samruk-Energo”), the tariff will rise from 13.17 tenge per kWh to 15.67 tenge.
For Group 4 (the “Topar Distribution Power Station” LLP, part of Vladimir Kim’s “Kazakhmys” corporation, which ranks fourth on the Forbes list of Kazakhstan's richest individuals with a net worth of $3.6 billion, will increase from 15.32 tenge per kWh to 20.84 tenge.
For Group 5 (“Zhambyl GRES named after Baturov” JSC), the tariff will increase from 17.73 tenge to 22.58 tenge per kWh, for Group 6 (“Karaganda Energy Center” LLP) - from 14.09 tenge to 17.64 tenge per kWh, for Group 7 (“Ust-Kamenogorsk CHPP” LLP) - up to 17.82 tenge from 14.27 tenge per kWh, for Group 8 (includes “Sevkazenergo” JSC) - from 18.61 tenge to 23.17 tenge per kWh, for Group 9 (“Astana-Energia” JSC) - from 9.28 tenge to 11.71 tenge per kWh, for Group 10 (“Pavlodarenergo” JSC (CHPP-2,3) - from 18.25 tenge to 24.29 tenge per kWh. The 100% shares of “Sevkazenergo” and “Pavlodarenergo” are owned by the Kazakh “Central Asia Electric Power Corporation” (CAEP).
Alexander Klebanov and Sergey Kan own 47.1% of CAEP shares, and they are included in Forbes' list of the richest people in Kazakhstan: their fortunes are estimated at $815 million (12th place) and $292 million (31st place), respectively.
The justification for the proposed mass increase in maximum tariffs is based on the fact that the average salary is expected to rise by 18% to 1,000 tenge in 2024. Moreover, sector enterprises anticipate a further increase of 15-20% in employee salaries in 2025. The salary increase aims to attract and retain qualified personnel in energy enterprises.
Specifically, in 2024, the shortage of personnel in the energy sector was estimated at 4,500 specialists (with 57,000 people working in the sector, which has a staff count of 52,500).
Why tariffs are increasing...
Over 460,000 kilometers of power lines are currently in operation in our country, with an approximate wear rate of 60%. In 2024, a record 327 billion tenge was allocated for the repair and modernization of power plants. This is twice as much as last year. The wear level of thermal power plants has decreased by 4%.
Energy Minister Almasadam Satkaliyev explained why electricity consumption in Kazakhstan is increasing during a departmental briefing on February 26, 2025.
The speaker noted that electricity consumption in Kazakhstan has been growing by 4% annually in recent years.
“This is related to the improvement of living standards—people consume more, new industrial facilities are being launched, the social, domestic, and communal sectors are developing, and small and medium-sized businesses are growing. According to the Ministry of Energy’s statistics, consumption volumes are increasing on average across the country in regions where time zone changes have occurred. In regions without translation, the growth rate is higher. For example, in the West Kazakhstan region, electricity consumption increased by 10%,” said Satkaliyev.