BAKU, Azerbaijan, Oct.27
Deterioration of power grids in Kazakhstan is over 50 percent, the Ministry of Energy said, Trend reports via Kazinform.
“Deterioration of the grids is more than 50-55 percent. In general, the electricity industry is capital intensive, implying a longer payback period and investments. The price of the product, which is produced by power generating enterprises, is regulated by the state and isn’t traded in the free market. Therefore, it’s not so easy for us to attract investors to the industry,” First Vice Minister of Energy Murat Zhurebekov said at a press conference in the Central Communications Service.
He also spoke about possible effects from investments for the grids.
“If we increase the generation of electricity, then we’ll need to modernize and build new networks. It's necessary. Accordingly, there is a direct link between investments and improvements in the quality of our network,” added the ministry’s official.
Earlier, the ministry informed about the reduction of tariffs for renewable energy in Kazakhstan over the past three years.