About us

Mission of JSC KOREM

We strive to improve the lives of consumers, clients, partners, and our employees by providing the best service and ensuring the implementation and expansion of digital tools in the country's electric power industry.

Vision of JSC KOREM

A customer-oriented company that provides entities of the electric power industry with high-quality services to improve the reliability and safety of power supply to consumers.

Functions of JSC "KOREM"

According to the Order of the Minister of Energy of the Republic of Kazakhstan dated March 20, 2015 No. 226, the Joint Stock Company "Kazakhstan Operator of the Electricity and Capacity Market" (hereinafter – KOREM JSC) was designated as the operator of the centralized trading market and: 

1. organizes and conducts spot trading;
2. ensures equal access conditions for wholesale electricity market participants to the centralized electricity trading market;
3. ensures open access to the results of electricity and capacity trading, including information on trade participants, bids submitted by power-generating organizations and the single buyer (date and time of submission, price, volume), and trading results (date and time of the deal, price, volume, value, counterparties);
4. determines the compliance of wholesale electricity market participants with the requirements established by the rules of centralized electricity trading;
5. performs registration and accounting of electricity purchase and sale transactions concluded in the centralized electricity market;
6. within its competence, provides wholesale electricity market participants with information on indicative electricity prices formed during centralized trading and other market information.

According to the Order of the Minister of Energy of the Republic of Kazakhstan dated June 6, 2023 No. 211, KOREM JSC was designated as the settlement center of the balancing market and: 

1. concludes contracts for the purchase and sale of balancing electricity and negative imbalances with balancing market participants;
2. carries out the purchase and sale of balancing electricity and negative imbalances on the balancing electricity market;
3. calculates hourly weighted average prices for the sale of balancing electricity and the purchase of negative imbalances within each balancing zone of the Unified Power System of the Republic of Kazakhstan in accordance with the procedure approved by the authorized body;
4. continuously ensures the availability of information on auction prices in the balancing market based on the results of each operational hour;
5. calculates hourly volumes of balancing electricity and imbalances for balancing market participants in accordance with the procedure established by the legislation of the Republic of Kazakhstan;
6. determines the ceiling tariff for balancing electricity and the ceiling tariff for negative imbalances;
7. forms a list of balance providers in accordance with the procedure established by the authorized body;
8. concludes accession agreements with all balancing market participants in the standard form approved by the authorized body;
9. performs mutual settlements on obligations for the purchase (sale) of balancing electricity and negative imbalances in the balancing market between market participants under the accession agreement;
10. carries out other functions provided for by the Law of the Republic of Kazakhstan "On Electric Power Industry."

According to the Order of the Minister of Energy of the Republic of Kazakhstan dated August 7, 2017 No. 280, KOREM JSC was designated as the organizer of auction trading, performing the organization and conduct of auctions and: 

1. organizes and conducts auction trading;
2. ensures the operability of the trading system for conducting auction trading;
3. develops and approves methodological guidelines and regulations for conducting auction trading;
4. ensures equal access conditions to auction trading for all participants;
5. conducts training for employees of participants on how to work within the trading system;
6. interacts with the authorized body and the financial settlement center on issues related to the organization and conduct of auction trading;
7. publishes the register of auction winners on the official internet resource.