Press releases

Naby Aitzhanov Calls for Exemplary Performance in 2024

KEGOC held a meeting to summarise the results of 2023 and plans for 2024 with the participation of heads of the operational branches and Energoinform JSC, the subsidiary.
As Aigul Akimbayeva, Managing Director for Economics and Finance, noted in her report, thanks to timely implementation of business objectives and investment projects, KEGOC's team completed the reporting year with good financial and corporate results.
Net profit totalled KZT 42.7 billion, up 60% or KZT 15.9 billion from 2022. Successfully placed "green" bonds in the amount of KZT 16.9 billion.
Moody's upgraded its outlook on KEGOC's Credit Rating to 'BAA2' Positive, Fitch upgraded the company's rating to 'BBB' Outlook Stable, S&P Global CSA Score assigned ESG rating of 51/100.
Electricity consumption in 2023 compared to 2022 increased by 1.9% to 115.06 billion kWh, which had a positive impact on the volume of services provided by KEGOC:
  • 36.1 billion kWh, 3.7% above the plan of electricity transmission in the national power grid (NPG)
  • 36.0 billion kWh, or 1% above the plan, of use of NPG
  • 106.3 billion kWh of technical dispatching of electricity supply and consumption in the grid
  • 205.4 billion kWh of balancing of electricity production and consumption
Despite the increased load on the grids, KEGOC ensured reliable accident-free operation of the national power system.
Preparation for autumn-winter loads was completed ahead of schedule including scheduled repairs of 89 power lines and 25 units of substation equipment, emergency stock of materials and spare parts have been replenished, and a sufficient reserve of materials have been created.
In November 2023, the strategically important West Kazakhstan Electricity Transmission Reinforcement Project was successfully completed. Five 220 kV power transmission lines were put into operation along West Kazakhstan Power Hub - Atyrau – Mangystau route, which has doubled the capacity of electric connections in the Western region.
The 1st stage of rehabilitation of 220-500 kV lines in three branches of KEGOC (Aktyubinskiye MES, Sarbaiskiye MES and Zapadnye Western MES) has been completed. Modernisation of power grids will continue in all branches of the company.
A special attention in the report of all managers is paid to the issues of safe and comfortable working conditions.
According to the results of 2023, KEGOC was recognised as a leader in the field of industrial safety among the group of companies of Samruk-Kazyna JSC, the injury rate was reduced three times compared to 2022, and the fatality rate was reduced to zero. KEGOC also confirmed a high social stability rating of 86%.
KEGOC is implementing a comprehensive programme to improve employee welfare. Operating personnel have been paid higher wages and additional material incentives have been introduced.
Under the soft loan programme, 51 employees purchased housing in 2023. In 2024, the Company will continue to provide assistance in purchasing housing for employees.
Elvira Konakhbayeva, Managing Director for Strategy and Sustainable Development, dwelt separately on the fulfilment of corporate KPIs. Five corporate KPIs were set for KEGOC for 2023, and their targets have been fully met. The aggregate performance was 111% due to achievement of the challenge to reduce the injury rate in the Company and exceeding the financial targets. Overall, the overall performance improved by 7 percentage points compared to 2022.
"I am sure we all understand that improving the social well-being of our employees is the key to the success of the entire Company and it is, first of all, our responsibility," Elvira Konakhbayeva emphasised.
Concluding the meeting, Nabi Aitzhanov, Chairman of the Management Board of KEGOC, noted that the implemented measures on social support of employees have a favourable impact on staff engagement and ensure a high level of corporate culture in the Company.
"We must be even more diligent in fulfilling all of our targets and better at planning our own work. I will monitor all indicators on a monthly basis in even closer contact with you. In the near future, separate field meetings will be held in all branches," summarised the head of the Company.
In 2024 the company faces no less ambitious tasks: continue work on strengthening the electric grid of Zone South of the UPS of Kazakhstan, unify the energy system of Western Kazakhstan with the UPS of Kazakhstan, rehabilitated the lines in the company's branches of the 2nd and 3rd stages, improve the ESG rating, fully implement the planned repair and maintenance work, implement measures to improve the social well-being of employees.
All departments have been instructed accordingly.

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