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Kazakhstan Investment Conference San Diego, California 9 September 2005

Kazakhstan Investment Conference San Diego, California 9 September 2005. Investing for Kazakhstan’s Future Power Needs: The AES Corporation Experience 1996 - 2005. Dale W. Perry Vice President, AES Corporation Regional Director Kazakhstan, Russia and Central Asia. Growth Prospects.

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Kazakhstan Investment Conference San Diego, California 9 September 2005

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  1. Kazakhstan Investment ConferenceSan Diego, California9 September 2005 Investing for Kazakhstan’s Future Power Needs: The AES Corporation Experience 1996 - 2005 Dale W. Perry Vice President, AES Corporation Regional Director Kazakhstan, Russia and Central Asia

  2. Growth Prospects • GDP Growth: • 8 – 10% last few years • Stated goal to double GDP by 2008 – 2010 • Equates to 5% per annum growth in Electric Power Demand (500 MW) • Impact to AES: • Winter 2005 AES Ekibastuz ran at level last seen in 1994

  3. AES in Kazakhstan

  4. Re-Industrialization of Kazakhstan

  5. Emerson

  6. Filling the Demand Gap

  7. The AES Announcement (November 2004): Increase of 15% per annum in Price

  8. How Does the AES Price Compare to the Alternatives? World Bank REEPS Report In 2004 prices

  9. Kazakhstan’s Comparative Advantage… Comparative Tariff Structures (2004) Dominican Republic El Salvador Cameroun Venezuela Brasil USA Argentina Kazakhstan Ukraine

  10. Government Agencies… a surmountable challenge • GoK investments in power sector and contract issues • Ministry of Energy electricity industry reform issues • Ministry of Ecology regulations of air pollution and ecological permit issues • Agency of Natural Monopoly Regulation electricity distribution, power transportation, rail road tariffs issues • Ministry of Industry competition issues • Ministry of Finance tax issues • Committee of State Property contract issues • Ministry of Transportation rail road issues • KEGOK power regulations and transportation • KOREM centralized power sales • Parliament new legislations • Others Local and Regional

  11. World Bank REEPS (February 2005) This is exactly what AES does in KZ, with Generation and Distribution

  12. Steps AES is Taking… • Addressing the Predictable, Future Power Shortfalls • Working with Government of Kazakhstan to Solve the Sector Disincentives • Cultivating Regional, Cooperative Opportunities Through: • Public Private Partnerships with Governments and IFIs • Russia-Kazakhstan Regional Market Working Group • Harmonizing Rules and Regulations • Removing Barriers to Market Entry • Regional Market Development, through new businesses in: • Tadjikistan • Kirghistan • Interacting with New Market Entrants • China • US…?

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