KenGen CEO Announces Drop in Electricity Prices After Milestone
Peter Njenga, the CEO of Kenya Electricity Generating Company (KenGen), has assured the people of Kenya that electricity prices will be reduced following an excess supply of hydropower.
On Monday, Njenga announced that power generation has risen due to enhanced water levels at the primary dams in the Seven Forks Cascade within the country.
He also mentioned that Masinga Dam, the largest in Kenya, reached nearly its maximum capacity, reaching a height of 1,056 meters above sea level (mASL).
In a mere three days, water from Mount Kenya and Aberdares filled the dam.
Over the past day, the power station achieved a peak output exceeding 471MW, a contribution that the company emphasized will significantly contribute to the stability of grid-scale electricity expenses.
“We are happy to report that we are receiving very good inflows from the Mount Kenya and Aberdares catchment areas which has led to high water levels at our dams,” the CEO stated.
He added, “This will see Kenyans reap the full benefit of cheaper electricity.”
In January, the Energy and Petroleum Regulatory Authority (EPRA) increased the price per unit of electricity by 8.7 percent.
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This implies that previously, Kenyans were paying Ksh3.98 for each unit, but in January, the cost rose to Ksh4.33 per unit.
The variable nature of the shilling led to a 103.7% rise in the adjustment for fluctuations in the foreign exchange rate (Ferfa), consequently influencing the prices.
Now, Ksh150 can only buy 4.69 units of electricity.
Njenga provided additional reassurance to Kenyans, particularly those residing downstream of the five dams, emphasizing that they do not anticipate any water overflowing downstream shortly.
“Despite getting close to the maximum water levels at the Masinga Dam which is our biggest, we have not reached spilling level thanks to a robust water management program being implemented by our engineers. We however remain vigilant and will issue an alert should we envision a potential water overflow from the large dams,” he explained.
KenGen disclosed that they observed decreased inflows in the past week, providing additional reassurance that the water level in Masinga Dam is not expected to reach the spilling point shortly.
KenGen CEO Announces Drop in Electricity Prices After Milestone
