Kenyans to start paying electricity bills in US dollars
2 min read
Kenya Power consumers to start paying electricity bills in US dollars after the utility company received becessary approvals
Kenya Power consumers to start paying electricity bills in US dollars after the utility company received necessary approvals.
Kenya Power and Lighting Company (KPLC) is planning to launch a system that will enable customers to settle their power bills in US dollars.
This comes after KPLC received approval from the government to bill some of its customers in US dollars in a major win for the firm whose recent performance has been hit hard by foreign exchange losses.
KPLC Finance Manager Stephen Vikiru said the utility firm is in the process of setting up accounts to receive foreign currency payments from consumers.
The utility on Friday said it is setting up accounts to enable the collection of electricity bills in US dollars, euros and Sterling pounds from customers that are willing and able to pay their bills in foreign currency.
Vikiru revealed a long engagement between the company, the Energy and Petroleum Regulatory Authority (EPRA) and the Ministry of Energy to bring the plan to fruition.
CS Kuria criticizes Benny Hinn, pokes holes into parts of his preaching
Raila exit from Kenyan politics will be a blow to opposition – Ruto ally
Ruto praises Uhuru Kenyatta for his unitary role
Outrage as man kills pregnant wife, little son, and other two relatives
Another power blackout disrupts President Ruto speech at Kasarani
“There was a lot of engagement on this right from the top, including the regulator and the government, and we got the necessary approvals. We are in the process of opening collection accounts in a manner that is well interfaced with our systems,” said Kenya Power Finance Manager Stephen Vikiru.
This followed the continued depreciation of the Kenya shilling, which hit a low of KSh 163 against the US dollar in January 2023.
The weak shilling ballooned Kenya Power’s finance costs in the year to June 2023 to Sh24.15 billion, up from Sh12.7 billion in the previous year. This plunged the company into a net loss of Sh3.19 billion, reversing a profit after tax of Sh3.26 billion the previous year.
Also read,
Charlene Ruto makes a special prayer to Benny Hinn over husband
“I got revelation I’ll be president in 2006′ Ruto
TSC to revise minimum entry requirements for teachers
Gachagua insists on government shareholding
Bandits shoot dead MCA in Samburu
Follow us
