Mission, vision and functions

Mission, vision and functions

Mission of JSC KOREM

Implementation and expansion of mechanisms for the functioning of the centralized electricity trading market, providing high-quality services and tools to all its participants for the successful conduct of their business.

Vision of JSC KOREM

Customer-oriented company that provides customers with high-quality services for organizing and conducting electronic trading of electric energy and power, with a projected share in the wholesale market of electric energy - 10% and in the market of electric power - 100%.

Functions of JSC KOREM

In accordance with subparagraph 2 section 15 of the law of the Republic of Kazakhstan "On electric power industry", the operator of the centralized electricity trading market is assigned the following functions:

• organizing and conducting spot trades;
• organization and conduct of centralized electricity trading for medium-term (week, month) and long-term (quarter, year) periods;
• ensuring equal terms of access for subjects of the wholesale electric energy market to the market of centralized electric energy trade;
• determination of compliance of subjects of the wholesale market of electric energy with the requirements defined by the rules of centralized auction for electric energy;
• implementation of registration and accounting of concluded transactions on purchase and sale of electric energy at centralized auctions of electric energy;
• providing, within the scope of its competence, subjects of the wholesale electricity market with information on indicative prices for electric energy formed at centralized auctions, and other market information.