OREANDA-NEWS. October 31, 2014. Majilis approved the draft Law "On amendments and additions to the law of the Republic of Kazakhstan "On energy conservation and energy efficiency" at the plenary session.

"The new Law "On energy conservation and energy efficiency", which created the basis for implementation of energy efficiency programs was adopted in 2012. Thanks to this law, the energy registry was created, it includes 4000 enterprises and 60 energy auditing companies are accredited. The task assigned by the Head of State for the first year plan of NP FIID to reduce specific energy consumption of the national economy was completed by 10%.

"There are some problems in financing energy efficiency measures. The draft law providing for mechanism introduction of energy service companies has been developed in this connection. Energy Service Company is a legal entity carrying out activities in fulfillment of work, provision of services in the field of energy saving and energy efficiency," Deputy Minister of Investment and Development Albert Rau said presenting the bill.

According to him, implementation of the mechanism for energy service contracts is an internationally recognized mechanism for funding projects aimed at energy conservation, and will help attract investment in this area, will allow attracting foreign energy service companies, financial resources, and the buildings to the market, will provide technology transfer. In addition, the rights and responsibilities of individuals working in this field, include possibility to conclude agreements on energy efficiency with an energy service company.