About company

Kazakhstan Electricity Grid Operating Company (KEGOC) was established in accordance with Decree No.1188 of the Government of Kazakhstan dated 28 September 1996 ‘On some measures to restructure power system management in Kazakhstan’. The date of initial registration of KEGOC is 11 July 1997.

Management Statements


Letter from the Chairman of kegoc’s Board of directors

2018 was an important year for KEGOC. In August 2018, the Board of Directors unanimously voted to update the Development Strategy in accordance with the long-term letter of the shareholder’s expectations for 2018-2028. The strategic goals and objectives of KEGOC were brought in line with the strategic goals of Samruk-Kazyna JSC to include the projects for technological development and business digitalization and update the investment project portfolio so that it would increase the efficiency of invested capital and develop new types of business.

Letter from the Chairman of kegoc’s Management Board

The main event of the reporting year was the successful implementation of 500 kV OHTL Shulbinsk HPP (Semey) — Aktogai –Taldykorgan — Alma construction project. It was launched on 11 December 2018 during a live national TV conference on the Day of Industrialization. The event was participated by the President of the Republic of Kazakhstan, Mr. Nursultan Nazarbayev, who commended the completed project.

Key events

  • Early termination of the term of powers of the following members of KEGOC’s Board of Directors: Kuanysh Bektemirov on his own initiative.

  • The Kazakhstan Stock Exchange (KASE) held a meeting on the Issuer Day dedicated to KEGOC to increase the investors’ interest in the issuer and seek feedback about the issuer from the shareholders.

  • KEGOC held hearings of the annual performance report for the consumers and other stakeholders about regulated services provided by the Company.

  • KEGOC held an annual General Meeting of Shareholders to approve the annual financial statements for 2017 and the amount of funds for dividend payment .

    Also, the meeting determined the number of members, terms of office of KEGOC’s Board of Directors, elected its members and the chair, and the rates and terms of remuneration and compensation of expenses for the members of KEGOC’s Board of Directors.

    Ibragim Tagashev, was elected the Chairman of KEGOC’s Board of Directors.

  • KEGOC published its financial statements for 2017 and for the first quarter of 2018.

  • KEGOC started payment of dividends on KEGOC’s ordinary shares for 2017.

  • S&P Global Ratings upgraded the long-term credit rating of KEGOC from BB to BB+ with ‘Stable’ outlook.

  • Fitch confirmed ‘BBB-’ rating of KEGOC with ’Stable’ outlook.

  • Moody’s confirmed ‘Baa3’ rating of KEGOC and raised its BCA to ‘ba2’.

  • KEGOC published its interim financial statements for H1 2018.


Ensure reliable operation of the Unified Power System of Kazakhstan
i.e. quality delivery of functions of the System Operator of the UPS of Kazakhstan; quality operational maintenance, repair and modernization of existing assets; increasing the transmission capacity of the NPGs of the Republic of Kazakhstan through the construction of new power transmission lines and substations; technological development and digitalization of business.
Ensure efficient operation of KEGOC
by increasing the efficiency of invested capital and developing new types of business; implementation of KEGOC’s Transformation Programme and the development of international cooperation.
Improve corporate governance and sustainable development
by improving the OHS management system; improving corporate governance; human capital development and environmental protection.
59 Tauyelsizdik Ave., Nur-Sultan, Republic of Kazakhstan