Kenya Power Increases Token Prices
Kenya Power has raised the fees for tokens in its most recent assessment of electricity expenses.
PoliticalPulseChat conducted a random examination, confirming that the modification took place the previous week, evident in the variance of tokens acquired on January 3 and January 11, 2024.
The previous week, individuals in Kenya who bought tokens amounting to Ksh250 obtained 8.87 units, whereas, this Wednesday, the identical sum resulted in only 7.82 units.
During a decline, the shift in token worth was triggered by a significant surge in the forex adjustment fee, escalating from Ksh28.11 to Ksh50.53.
The forex adjustment refers to the deduction made for forex charges during the purchase of tokens. This deduction is determined by the fluctuation of major currencies in comparison to the Kenyan Shilling.
Over the recent weeks, the Kenyan Shilling has been consistently overshadowed by the dominance of the US dollar, and presently, the currency is exchanging at an average rate of Ksh159.
ALSO READ:
- How not to make a mistake when choosing the best bookmaker in Kenya
- Understanding Gatwiri’s Cause of Death: Unraveling Positional Asphyxiation
- KRA Rules Out Tax Relief on SHIF Deductions
- Understanding Why Married Women Cheat: Common Reasons Behind Infidelity
- Violence Erupts in Mozambique: Three Killed, 66 Injured in Protests Over Disputed Election
The Value Added Tax (VAT) on the Ksh250 purchase decreased from Ksh29.18 to Ksh26.15. Kenya Power applies a 16% VAT to various components of the pre-paid token units, including fixed charges, consumption, fuel cost charges, forex adjustments, demand charges, and inflation adjustments.
Notably, there was a reduction in the fuel energy charge from Ksh35.31 to Ksh33.85, and the Energy and Petroleum Regulatory Authority (EPRA) charge decreased from Ksh0.7 to Ksh0.62, among other factors.
The fee imposed by the Water Resources Authority (WRA) for energy acquired from hydropower plants was decreased from Ksh0.14 to Ksh0.11.
The fee for the Rural Electrification Programme (REP) has been reduced from Ksh7.35 to Ksh6.48. This fee is levied to fund and support the execution of projects aimed at electrifying rural areas.
“This is a five percent levy on the cost of the units of power consumed by a customer. It is passed on to the Rural Electrification Authority (REA) to implement the rural electrification projects,” Kenya Power explains on its site.
In the December evaluation, EPRA lowered the prices of petrol, diesel, and kerosene by Ksh5, Ksh2, and Ksh4.01, respectively.
If there are changes in fuel prices, whether they decrease or rise in January, further modifications will be implemented to align with the fluctuations in the market.
Kenya Power Increases Token Prices
