Kazakhstan created the state company - KOPEM - to trade in electricity

/IRBIS, July 25, 00/ - REUTERS informs, with the representative of the Ministry of energy, industry and trade, that by the resolution of the government, a new company - operator of the electricity and power market (KOPEM), was established, that will be trading on the market of electricity. In the quotation that he gave it becomes clear that the government will have 100% stake in the company. Previously, the trades in the electricity market were conducted by KEGOC, is said. From now on this company will handle only technical matters. The representative said that KEGOC would take care of technical maintenance and KOPEM would work as a broker. He added that by this resolution the government has approved the concept of improving the wholesale market of electricity, which means the development of market relationships in this area. KOPEM is said to conduct the trades in SPOT and balanced electricity and power, as well as to purchase and sale of reserves to ensure uninterrupted supply of electricity in case of emergency with the supplier. The company is said to create the market of supplementary services in the electricity sector in accordance with the approved concept.