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KEGOC reported to Samruk-Kazyna's Public Council

     KEGOC reported to the Public Council of Samruk-Kazyna on the performance for the past year, achievement of strategic KPIs, and the progress of the investment projects. The members of the Public Council were also provided with the performance of EnergoTekhProfSoyuz trade union organisation, the compliance function and other areas.

      Ms. Elvira Konakhbayeva, Managing Director for Strategy and Sustainable Development of KEGOC, noted that since its establishment in 1997, KEGOC has been one of the key electric power assets of Kazakhstan and has made a significant contribution to the development of the national economy. As the System Operator, KEGOC continues to manage the Unified Power System of Kazakhstan and ensure reliable power supply to the country's consumers.

      According to the company, both production and financial indicators have increased over the last three years. At the end of 2021 54.65 billion kWh of electricity was transmitted through the grid, or 18.4% more than in 2020. Net income for 2021 was KZT 52.6 billion. Dividend payments of KZT42.2 billion are planned for 2022.

     At present, KEGOC is implementing several major investment projects to ensure reliable power supply to consumers and sustainable development of the UPS of Kazakhstan. Among them are Rehabilitation of 220-500 kV overhead lines Aktyubinskiye MES, Zapadnye MES and Sarbaiskiye MES branch of KEGOC, West Kazakhstan Kazakhstan Electricity Transmission Reinforcement Project. Construction of power grid facilities. Turkestan External Power Supply Reinforcement Project is nearing completion. The new 220 kV Ortalyk substation is scheduled to be launched this summer.

     The members of the Public Council were interested in the issues of maintaining social stability in the company, improving the welfare and living standards of employees, labour protection, the implementation of the Development Strategy of the Company for 2022-2031, the market value of the Company since the IPO. Also, representatives of the company said that they had started to develop a forecast model for the development of the National Power Grid in the long term.

      The purpose of the Public Council's hearings is to increase the transparency and accountability of the national companies of the Fund Group. The feedback received during the hearings contributes to improving the performance of the companies in these areas.

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