Page 10 - AfrElec Week 38 2022

AfrElec TRADING AfrElec

Kenya Power set to net

over $5.8mn in September

from forex windfall

KENYA NAIROBI-LISTED Kenya Power is expected to Electricity consumption of KES 1.11bn units
earn almost KES 700mn ($5.8mn) this month recorded in September implies that the utility
after the energy regulator increased the foreign firm is likely to earn about KES 9.05bn from the
exchange charges on electricity bills, the Daily new rates, which is about KES 3.1bn higher than
Nation reports. the KES 5.95bn earned in August under the old
Kenya Power, the national electric utility rates.
company, manages electric metering, licensing, The removal of the electricity subsidy and the
billing, emergency electricity service and cus- partial withdrawal of the fuel subsidy saw prices
tomer relations. of diesel shot up to KES 165 from KES 140.03,
The Energy and Petroleum Regulatory even as that of kerosene jumped to KES 147.94
Authority (EPRA) nearly doubled the foreign per litre after EPRA increased its cost by KES 20.
exchange fluctuation adjustment (Ferfa) to KES The power prices for September shot up after
1.36 to cater for the weakening of the Kenyan the government ended its subsidy on electricity,
shilling against the US dollar. the subsidy was extended to cater for a 15% cut
The energy regulator also increased the fuel in prices in January this year on orders by former
cost charge (FCC) to KES 6.79 per kilowatt-hour President Uhuru Kenyatta.™
(kWh) of electricity, up from KES 4.63.

P10 www. NEWSBASE .com Week 38 22•September•2022