ASTANA, Kazakhstan, August 19. Kazakhstan's power grid operator, KEGOC, forecasts an increase in electricity consumption in the country, reflecting overall economic development, Trend reports.
According to KEGOC's forecasts, electricity consumption is projected to reach 121 billion kilowatt-hours in 2023, which is 7 percent higher than the 113 billion kilowatt-hours in 2022. The projection for 2024 indicates a further increase to 125 billion kilowatt-hours. Looking ahead to 2028, a growth rate of 142 billion kilowatt-hours is expected. Consequently, compared to 2022, this represents a growth rate of 25.6 percent.
The company notes that existing capacities will be insufficient to meet the electricity needs of the country's population and businesses. KEGOC believes that Kazakh authorities should implement widespread adoption of new generating capacities. It is expected that by 2029, the total generating capacity of all operating power stations and power plants in the country will increase by 8.7 GW.
The company is confident that the growing electricity market is reflected in its financial results. Specifically, the pre-tax profit (EBITDA) for 2023 is expected to be around 103 billion tenge. It is projected that by 2025, this figure will increase by 47 billion tenge ($101.7 million), or 45.6 percent, due to "regulatory effects and an increase in the volume of services provided." Further growth in EBITDA to 170 billion tenge ($367.8 million) is anticipated by 2027.
The volume of services provided by KEGOC is expected to increase from 54 billion kilowatt-hours (last year's volume) to 91.3 billion kilowatt-hours by 2028, a growth rate of 69 percent. This will be facilitated by the separation of activities due to the emergence of a single electricity purchaser. KEGOC will ensure electricity transmission and the use of the national electricity grid.
The company also plans several investment projects, including the reconstruction of overhead lines in various regions of Kazakhstan. The total cost of these projects is 454.9 billion tenge ($984.5 million), with completion expected by 2031.
The issue of electricity shortages is actively discussed in Kazakhstan. In recent years, the country has been importing energy from Russia. To address the problem, the government introduced the mechanism of a single electricity purchaser, which procures energy through auctions and resells it to consumers. Additionally, the government is seeking to regulate energy consumption by miners.