Kenya Power Slashes Electricity Rates by 13.7%
Kenya Power on Monday announced a 13.7% reduction in power prices for domestic customers.
In a statement, the power utility firm attributed the reduction to the strengthening of the Shilling and a reduction in the cost of fuel that is used to generate electricity.
“We are happy to note that the reduction has given reprieve to our customers and we are optimistic that the prevailing macro-economic environment and the improved hydrology in the country.”
“This enables us to dispatch less thermal power, which will sustain the benefit to our customers,” said Kenya Power’s Managing Director & CEO, Dr. (Eng.) Joseph Siror.
According to the company, a 37% cumulative reduction in fuel cost charges between March and April 2024 as gazetted by the Energy Petroleum and Regulatory Authority (EPRA) was one of the largest contributors to the price reduction.
A customer under the Domestic Customer 1 (DCI) tariff band (those consuming less than 30 units per month) using 30 units of electricity will pay Ksh629 in April 2024 compared to Ksh729 for similar units in March 2024 representing a 13.7% reduction.
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Similarly, a customer under the Domestic Customer 2 (DC2) tariff (averaging 31-100 units per month) who consumes 60 units will pay Ksh1,574 in April 2024 compared to Ksh1,773 in March 2024 representing an 11.2% reduction.
A customer under the Domestic Customer 3 (DC3) tariff band (averaging more than 100 units per month) who uses 120 units per month will pay Ksh3,728 in April 2024 compared to Ksh4,127 in March representing a 9.7% reduction.
The company further stated that this was an affirmation of its commitment to ensuring access to affordable electricity.
Moreover, the firm noted that this was key to spurring socio-economic development in the country.
This reduction comes at a time when the company had also reduced Value Added Tax (VAT) and Fuel Energy Charge costs in the purchase of electricity tokens in March.
According to a spot-check conducted by Gossipa2z.com, in February, for a Ksh300 purchase, Kenya Power charged Ksh34.88 for VAT and Ksh43.56 for Fuel Energy Charge.
However, in March, the VAT was reduced to Ksh34.18 while the Fuel Energy Charge was reduced to Ksh38.46.
Kenya Power Slashes Electricity Rates by 13.7%
