Kazakhstan Electricity Grid Operating Company’s Net Profit Increases to $49.7 Million

ASTANA – In the first half of 2023, net profit of the Kazakhstan Electricity Grid Operating Company (KEGOC) grew 64.3% to 23 billion tenge ($49.7 million), compared to the same period last year, the company’s press service reported on Aug. 17.

Photo credit: inbusiness.kz.

KEGOC’s operating income made up 114.4 billion tenge ($247.5 million), growing 11.3% by 11.5 million tenge ($24,889), ten million tenge ($21,642) of which was contributed by increased tariffs and volumes for regulated services.

Income from electricity transmission totaled 80 billion tenge ($173.1 million), from electricity dispatching – 16.8 billion tenge ($36.3 million), from balancing organization – 10.6 billion tenge ($22.9 million), and other income from core activities – 6.9 billion tenge ($14.9 million).

Last year, KEGOC paid 30.1 billion tenge ($65.1 million) in dividends.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!