Kazakhstan is set to increase electricity tariffs. The relevant department has already launched the corresponding draft order.
The document will be under discussion until March 25. The cost of electricity is increasing due to the expenses of enterprises on fuel and equipment. Last year, the pandemic caused a decrease in energy consumption by 7 percent in the country. Accordingly, the companies lost part of their revenue. Experts said that the increase in prices will compensate for the losses. This is also necessary for the further development of the field.
“We expect the power shortage from 2023. This means that by this time, new additional power plants must be constructed, or old plants must be improved by adding new equipment. Manufacturing costs are one thing, but investment costs are completely different. It requires a lot more investments. This will be an additional incentive to ensure that the country has enough capacity for the needs of the economy,” said Alisher Kurbanaliyev, Power Industry Expert.
