Government Announces Reduction in Electricity Prices
Kenyans can finally breathe a sigh of relief after Treasury Cabinet Secretary John Mbadi announced a significant reduction in electricity prices.
The announcement, made on Thursday afternoon outside the Treasury buildings in Nairobi, brings hope to many households and businesses struggling with high electricity costs.
According to the CS, the decrease in electricity tariffs is a direct result of the consistent profits recorded by the Kenya Power Company (KPC) over the past few years.
He explained that the government is committed to ensuring that these profits benefit consumers by lowering the cost of electricity.
“Kenya Power has been making profits, and these should not just benefit the company alone. The general public should also feel the impact through reduced electricity tariffs.
If you have been keen, you may have noticed that electricity bills have already started going down,” Mbadi stated.
He encouraged Kenyans who are still experiencing high electricity costs to report their concerns so that the government can take appropriate action.
“If the current electricity rates are still not low enough, we will take further steps to pass the benefits directly to consumers. The cost of energy remains a key priority for the government,” he assured.
Reasons Behind the Electricity Price Drop
The reduction in electricity prices comes on the back of Kenya Power’s strong financial performance, which has been driven by increased revenue, higher electricity sales, and lower finance costs. The strengthening of the Kenyan shilling has also played a role in stabilizing operational expenses.
In a recent financial report, Kenya Power revealed that it recorded a net profit of Ksh9.97 billion for the half-year ending December 31, 2024. This marks a significant improvement compared to the same period in 2023.
Kenya Power’s Managing Director, Joseph Siror, credited the rise in electricity unit sales to several factors, including higher consumption due to improved network reliability, the connection of new customers, and faster resolution of power outages.
He further noted that the company had ensured the availability of essential materials such as meters and transformers to support electricity distribution.
“At the core of our strategy is a strong commitment to providing reliable electricity to improve people’s lives while maintaining high operational efficiency,” Siror told stakeholders during a recent briefing.
He also emphasized that Kenya Power is focused on sustaining its improved financial performance by implementing targeted strategies to enhance efficiency, diversify revenue streams, and support long-term business growth.
With these developments, Kenyans can expect to enjoy more affordable electricity, making it easier for households and businesses to manage their energy costs.
Join Gen z and millennials TaskForce official 2025 WhatsApp Channel To Stay Updated On time the ongoing situation https://whatsapp.com/channel/0029VaWT5gSGufImU8R0DO30
