Kazakh Grid Operator Increased 2011 Profit 29% on Power Demand

AO Kazakhstan Electricity Grid Operating Company, the central Asian country’s main power distributor, increased profit 29 percent last year as demand for power rose.

Net income increased to 64.8 billion tenge ($436 million) from 50.2 billion tenge in 2010, the power network operator, known as KEGOC, said in an e-mailed statement today.

Electricity consumption climbed 5.2 percent, and production rose 4.7 percent last year, according to the statement.

To contact the reporter on this story: Svetlana Antoncheva in ASTANA, KAZAKHSTAN at santoncheva1@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

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