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Kazakh Grid Operator Increased 2011 Profit 29% on Power Demand

Jan. 31 (Bloomberg) -- 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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