This article discusses the current state and trends in the development of the electric power industry in Kazakhstan. An analysis of the energy supply and energy intensity of Kazakhstan’s GDP is provided in this paper. The results of the foresight of the risks and opportunities of the energy industry are described. This study identifies the relationship between the traditional development of the energy industry and the development of alternative energy sources. In addition, the work examines the risks and consequences of various trends in the development of national and global energy. Previous studies have shown that government efforts are insufficient in developing an alternative energy sector in Kazakhstan. The research results show that there is a need to transform energy production from traditional sources towards greater efficiency and environmental friendliness, as well as the active involvement of the business community in the development of an alternative energy market. This is expected to attract more investments and transfer technologies to maintain the country’s position in the energy market of the future.