Kazakhstan's power producers accumulate losses
Baku, Azerbaijan, Jan. 15
By Ali Mustafayev - Trend:
Kazakhstan's electricity producers suffer losses for the second consecutive quarter, while production of electric power in 11 months of 2017 exceeded the previous year's figure by 5 percent.
Despite a significant increase in production in 2017 (a record for the last 5 years), the financial result for the Kazakh electric power industry is not so positive, the Finprom.kz analytical agency reported.
For the second consecutive quarter, large and medium-sized enterprises operating in the electricity, gas, steam and air conditioning sectors record significant budget losses. In the third quarter of 2017, the cumulative loss of major market participants amounted to 7.6 billion tenge.
In the first quarter of 2017, companies, engaged in electricity production in Kazakhstan, gained a record profit worth 105.3 billion tenge. However in the second quarter of 2017 the profits turned into 1.7 billion tenge worth of losses.
(Exchange rate for 15.01.2018: $1 - 329 tenge)