Kazakhstan’s Agency for the Protection and Development of Competition has proposed introducing state regulation of coal prices, but only for coal sold to energy companies.
The agency argues that the coal market for energy producers operates as a de facto monopoly. Over 70% of this segment is controlled by Bogatyr Komir LLP, based in Ekibastuz. According to the agency, the company has consistently raised prices over the past five years, with annual increases ranging from 5% to 21.5%. In 2023, antitrust authorities launched an investigation into Bogatyr Komir for allegedly setting monopolistically high prices. The company contested the probe, but on June 10, 2025, Kazakhstan’s Supreme Court upheld the legality of the investigation.
Officials emphasized that thermal coal prices have a direct impact on electricity tariffs, accounting for up to 60% of the costs incurred by energy producers. Rising coal prices also drive up the cost of food and utilities. Despite electricity and heat tariffs being regulated at every stage of delivery, coal prices remain outside the scope of state control.
“This leads to sharp price fluctuations and causes cash flow gaps for energy producers. Therefore, the agency initiated the introduction of state regulation of energy coal prices. This provision is included in the sixth package of amendments to the antitrust legislation, which is currently being considered by parliament,” the agency’s press service stated.
Energy is the largest consumer of coal in Kazakhstan. In 2024, 59% of the 109.8 million tons of coal mined domestically was used within the country, while 29.5 million tons were exported. Coal powers approximately 66% of Kazakhstan’s electricity and 80% of its heat. While around 25 companies operate in the sector, 75% of production is concentrated among four major firms: Bogatyr Komir (with about 40% of market share), Euro-Asian Energy Corporation, Shubarkol Komir, and Karmet (formerly ArcelorMittal Temirtau).
As previously reported by The Times of Central Asia, Kazakhstan’s coal reserves could last 200-300 years, depending on the rate of extraction.
