Kenya Power Slashes Electricity Rates by 13.7%

Kenya Power made a significant announcement on Monday, unveiling a 13.7% reduction in electricity prices for domestic consumers.

The power utility firm attributed this welcomed decrease to the strengthening of the Shilling and a notable decline in the cost of fuel utilized for electricity generation.

Dr. (Eng.) Joseph Siror, Managing Director & CEO of Kenya Power, expressed satisfaction at the relief this reduction brings to customers, citing optimism regarding the current macro-economic landscape and improved hydrology in the nation. He emphasized that dispatching less thermal power would sustain these benefits for consumers.

Kenya Power highlighted a 37% cumulative reduction in fuel cost charges between March and April 2024, as gazetted by the Energy Petroleum and Regulatory Authority (EPRA), as a primary factor contributing to this price adjustment.

Under the new rates, customers across different tariff bands will experience substantial savings. For instance, those falling under the Domestic Customer 1 (DC1) category, consuming less than 30 units monthly, will witness a 13.7% decrease, paying Ksh629 compared to Ksh729 in March 2024 for similar usage.

Similarly, customers categorized under the Domestic Customer 2 (DC2) tariff, consuming 31-100 units monthly, will observe an 11.2% reduction, paying Ksh1,574 for 60 units in April 2024 compared to Ksh1,773 in March.

Customers under the Domestic Customer 3 (DC3) tariff, utilizing over 100 units monthly, will also benefit from a 9.7% reduction, paying Ksh3,728 for 120 units in April 2024, down from Ksh4,127 in March.

This reduction marks a significant step towards making electricity more affordable for Kenyan households, reflecting the commitment of Kenya Power to enhance consumer welfare amidst economic fluctuations.