Kazakhstan's electricity import costs from Russia surge 87% in Jan-May
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Kazakhstan spent $156 million on electricity imports from Russia in January-May 2026, up 87% from a year earlier, the First Credit Bureau reported. The increase was driven by a 49% rise in the average price per kilowatt-hour to $0.11, while import volumes grew only 25% to 1.37 billion kWh.
Price Surge
The average price of imported Russian electricity rose 49% year-on-year to $0.11 per kWh in January-May 2026, according to the Bureau of National Statistics. In tenge terms, the increase was 42%. The price spike was the main factor behind the record import bill, which was the highest since at least 2020.
Volume Growth
Physical imports increased 25% to 1.37 billion kWh, the highest for the period in seven years but only slightly above 2023 levels. Kazakhstan buys Russian electricity mainly during peak morning and evening hours when domestic generation cannot meet demand. Analysts say high demand during these periods adds upward pressure on prices.
What's Next
Kazakhstan is expected to continue relying on Russian electricity imports to cover peak demand, especially as domestic generation capacity remains constrained. It remains unclear whether the government will accelerate investment in new power plants or pursue alternative import sources to reduce dependence.
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Kazakhstan's electricity import costs from Russia surge 87% in Jan-May
