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UPDATE 1-Kazakhstan fines U.S. energy firm AES $200 mln

Fri Oct 5, 2007 3:19am EDT

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Regulatory News

ASTANA, Oct 5 (Reuters) - Kazakh regulators plan to fine U.S. energy company AES Corp. (AES.N) $200 million due to violations of the central Asian state's anti-monopoly legislation, an official said on Friday.

"It's extraordinary that AES Corp, which is traded on the New York Stock Exchange and positions itself as a public company, can ignore Kazakhstan's anti-monopoly legislation," said Aliakpar Makishev, head of the competition protection committee at the Industry Ministry.

The U.S. company, the biggest power generator in Kazakhstan, could not be immediately reached for comment.

Makishev told reporters that regulators believed the company's operations in Kazakhstan were breaching competition rules by selling electricity through firms affiliated with it. He added the matter was being handled by a regional court.

Present in Kazakhstan since 1996, AES runs three power generation plants and a coal mine. It accounts for almost a third of the former Soviet nation's installed generation capacity.

It employs more than 6,200 people at its facilities in Kazakhstan, according to its Web site.



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