Kenya Power announces reduction of electricity prices

By , K24 Digital
On Mon, 15 Apr, 2024 17:33 | 2 mins read
Kenya Power's Managing Director & CEO Joseph Siror
Kenya Power's Managing Director & CEO Joseph Siror. PHOTO/Kenya Power Care/Facebook.

Kenya Power has announced a reduction in electricity prices for domestic users for the month of April.

In a statement on Monday, April 15, the utility company revealed that domestic customers would experience a decrease in their electricity bills of up to 13.7 per cent.

Kenya Power said the reduction comes as a result of multiple factors, including a 37 per cent cumulative decrease in the fuel cost charge and foreign exchange fluctuation adjustment.

"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, which enables us to dispatch less thermal power, will sustain the benefit to our customers," Kenya Power's Managing Director & CEO Joseph Siror said.

According to the Energy and Petroleum Regulatory Authority (EPRA), these adjustments have significantly impacted electricity costs for all customer categories.

"Electricity customers will enjoy up to a 13.7% reduction in the cost of power this month, following the strengthening of the Kenya Shilling and a reduction in the cost of fuel that is used to generate electricity. The fuel cost charge and foreign exchange fluctuation adjustment, which comprise the key variable components of the electricity bill, reduced by 37.3 per cent between March 2024 and April 2024, across all customer categories, as gazetted by the Energy and Petroleum Regulatory Authority (EPRA)," the statement read in part.

"The fuel cost charge reduced from Ksh4.64 in March 2024 to Ksh3.26 in April 2024, and from a high of Ksh4.93 in January 2024. On the other hand, the forex adjustment charge was reduced from Ksh3.68 in March 2024 to Ksh1.96 in April 2024 and from a high of Ksh6.85 in January 2024."

Kenya Power customers

Customers under various tariff bands will experience different levels of savings.

For instance, a customer under the Domestic Customer 1 (DC1) tariff band consuming 30 units of electricity will pay Ksh629 in April 2024, compared to Ksh729 in March 2024, representing a 13.7 per cent reduction.

Likewise, customers under the Domestic Customer 2 (DC2) and Domestic Customer 3 (DC3) tariff bands will also enjoy savings of 11.2 per cent and 9.7 per cent respectively.

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