Electricity prices drop after EPRA lowers fuel energy costs
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Kenya Power announce a reduction in electricity prices following a review of additional costs associated with token prices
Kenya Power announce a reduction in electricity prices following a review of additional costs associated with token prices.
Kenya’s power consumers have experienced slight relief after electricity prices dropped for the second consecutive month.
This came after the Energy and Petroleum Regulatory Authority (EPRA) lowered the energy fuel costs from KSh 4.14 per kilowatt-hour (kWh) in February to KSh 3.64 in March.
Simultaneously, the regulator boosted its procurement of cost-effective hydropower to 260.88 million units in February, a slight increase from 253.4 million units in January, alleviating bill pressures.
“Pursuant to Clause 1 of Part III of the Schedule of Tariffs 2023, notice is given that all prices for electrical energy specified in Part II of the said Schedule will be liable to a fuel energy cost charge of plus 364 Kenya cents per kWh for all meter readings to be taken in March 2024, EPRA director general Daniel Kiptoo said in a gazette notice.
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However, Business Daily reported that the foreign exchange rate fluctuation adjustment went up from KSh 3.22 in February to KSh 3.68 in March, denying consumers cheaper electricity.
This is despite the strengthening of the Kenya shilling to 140.4 against the United States (US) dollar.
Due to the available dollars, Kenya Power and Lighting Company (KPLC) managing director Joseph Siror assured consumers that they would pay less for electricity in the coming months.
“For long, foreign currency was not available thus the increased payments which ultimately will level out as we clear the backlog of payments,” Siror said.
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