Is it possible for electricity rates to be increased twice within a year in Kazakhstan?
Kazakhstan's Deputy Energy Minister Addresses Potential Tariff Increases
During a recent cabinet briefing, Deputy Energy Minister Sunkat Yesimkhanov addressed questions regarding potential increases in heat and electricity tariffs for Kazakhstani citizens. Notably, Yesimkhanov clarified that the regulation of tariffs for heat and retail markets falls under the purview of the Committee for the Regulation of Natural Monopolies under the Ministry of National Economy.
Yesimkhanov emphasized, "We only approve electricity tariffs at the generation level. There will be no increase this year until January 1, unless there are extraordinary circumstances." He elaborated on the reasons behind any potential price hikes, attributing them to increased coal prices, staff wages, and the cost of spare parts. However, he reassured that any increases take place within established inflation corridors.
While reports suggest that electricity prices in Almaty could rise from June 1, 2025, as well as previous news about planned increases in Astana, Yesimkhanov's statement seems to imply that no such adjustments will occur before January 1, 2023.
It's worth noting that electricity tariffs in Kazakhstan have increased by an average of 11.7% over the past year. Despite this, discussions surrounding electricity in Kazakhstan have primarily centered around trade, infrastructure development, and renewable energy strategies rather than specific tariff changes unrelated to annual adjustments.
No additional information indicates electricity tariffs in Kazakhstan increased before January 1, 2023, outside of regular annual increases or due to extraordinary circumstances.
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[1] Observatory of Economic Complexity data[2] Various news sources over the years*[3] Statistical and analytical content]
The Deputy Energy Minister clarified that the Ministry of National Economy, specifically the Committee for the Regulation of Natural Monopolies, is responsible for regulating tariffs for both heat and retail markets. Any potential increase in electricity tariffs, attributed to increased coal prices, staff wages, and the cost of spare parts, will only happen within established inflation corridors and not before January 1, 2023.
