Kenya Power Slashes Electricity Bills By 13.7% From May

15 April 2024
Capital FM (Nairobi)

Nairobi — Kenya Power has announced a 13.7% drop in electricity bills starting from May, providing much-needed relief to consumers grappling with the high cost of living.

The announcement on Monday follows a reduction in fuel prices by up to Sh10, as set by the Energy and Petroleum Regulatory Authority (EPRA) the previous day after months of soaring prices.

According to Dr. Fred Siror, the Managing Director of Kenya Power, this reduction in electricity prices is attributed to the strengthening of the Kenyan Shilling and a decrease in the cost of fuel used for generating electricity.

He expressed satisfaction with the relief this reduction would bring to customers, expressing optimism that the improved macro-economic environment and enhanced hydrology would sustain these benefits.

The firm highlighted that the fuel cost charge and foreign exchange fluctuation adjustment, crucial components of the electricity bill, have decreased by 37.3% between March 2024 and April 2024 across all customer categories, as per EPRA's gazettement.

In specific figures, the month-on-month fuel cost charge dropped from Ksh 4.64 in March to Ksh 3.26 in April 2024, down from a high of Ksh 4.93 in January 2024.

The forex adjustment charge decreased from Ksh 3.68 in March 2024 to Ksh 1.96 in April 2024, compared to Ksh 6.85 in January 2024.

For consumers, the reduction translates to tangible savings. For instance, a customer under the Domestic Customer 1 (DC1) tariff band consuming 30 units per month will pay Ksh 629 in April 2024, compared to Ksh 729 for similar units in March 2024, marking a 13.7% reduction.

Customers under the Domestic Customer 2 (DC2) tariff, consuming 60 units, will pay Ksh 1,574 in April 2024, down from Ksh 1,773 in March 2024, reflecting an 11.2% reduction. Likewise, a customer under the Domestic Customer 3 (DC3) tariff, utilizing 120 units monthly, will pay Ksh 3,728 in April 2024, compared to Ksh 4,127 in March, indicating a 9.7% reduction.

Kenya Power emphasized the critical role of affordable electricity in driving socio-economic development in the country. The company reiterated its commitment to facilitating economic growth by ensuring the availability of reliable and affordable electricity nationwide.

Read the original article on Capital FM.

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