Market News

Electricity To Drop By 13.7% As Kenyan Shilling Gains Momentum Against The US Dollar

BY Soko Directory Team · April 16, 2024 12:04 pm

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, were reduced by 37.3% between March 2024 and April 2024, across all customer categories, as gazetted by the Energy and Petroleum Regulatory Authority (EPRA)

The fuel cost charge reduced from KSh.4.64 in March 2024 to KShs.3.26 in April 2024, and from a high of KShs.4.93 in January 2024. On the other hand, the forex adjustment charge reduced from Kshs.3.68 in March 2024 to KShs.1.96 in April 2024 and from a high of KShs.6.85 in January 2024.

“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,” said Kenya Power’s Managing Director & CEO, Dr. (Eng.) Joseph Siror.

A customer under the Domestic Customer 1 (DC1) tariff band (those consuming less than 30 units per month) using 30 units of electricity will pay KShs.629 in April 2024 compared to KShs.729 for similar units in March 2024, representing a 13.7% reduction.

Similarly, a customer under the Domestic Customer 2 (DC2) tariff (averaging 31-100 units per month) who consumes 60 units will pay KShs. 1,574 in April 2024 compared to KShs. 1,773 in March 2024 representing a 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 KShs. 3,728 in April 2024 compared to KShs. 4,127 in March representing a 9.7% reduction.

Access to affordable electricity is key to spur the socio-economic development of the country. To this end, Kenya Power is focused on driving economic development through the provision of reliable and sufficient electricity across the country.

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

Trending Stories

Headlines Are The SACCOS The Infinite Money Glitch Of Kenya? Soko Directory Team

Government and Policy Kenya Is Struggling With Debt As Modest Revenue Is Collected With Limited Development Investment Steve Biko Wafula

Entrepreneur's Corner Kenyan Clients Don’t Care Whether You’re In the ICU: The Brutal Truth Of Entrepreneurship Soko Directory Team

Government and Policy Saccos Clamp Down On Struggling Businesses, Recover Sh491 Million In A Ruthless Crackdown Soko Directory Team

Entrepreneur's Corner The Greatest Skill Everyone Should Master Is The Skill Of Knowing How To Manage Money Soko Directory Team

Market News KRA Hits One Trillion Mark, Records 4.3% Growth In Revenue Collection Soko Directory Team

Market News Banks Move To Lower Lending Rates Amid CBK Rate Cuts Soko Directory Team

Market News Safaricom’s M-PESA Hits 34 Million Customers In Kenya Soko Directory Team

Market News Savannah Clinker Withdraws Competing Offer For Bamburi Cement Soko Directory Team

Market News November PMI Expands To 50.9, CBK MPC Interest Rate Decision Tomorrow Soko Directory Team

Explore Soko Directory

Banking Blogging Commodity Watch Did you know Entertainment Entrepreneur's Corner Feature Government and Policy Headlines Investment Lifestyle Market News Money Opinion Press Releases Stock Watch Technology

Soko Directory Archives

March 2014 (2)

March 2013 (10)
June 2013 (1)