By Peter Ochieng
Kenyans have a great future to look foward to, if current indications are anything to go by.
A day after the Energy, Petroleum and Regulatory Authority (EPRA) announced a reduction of prices of fuel by up-to Sh18 per litre, Kenya Power has announced a massive reduction in the prices of power.
Kenya Power in a statement on Monday said customers will now enjoy up to a 13.7 percent reduction in the cost of power this month.
This, the power company said, is as a result of the strengthening of the Kenyan shilling against the dollar, and a reduction in the cost of fuel that is used to generate electricity.
“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 and Chief Executive Officer Dr. (Eng.) Joseph Siror.
The announcement means Kenya Power customers under the Domestic Customer 1 (DC1) tariff band, who consume less than 30 units per month, will enjoy a 13.7 percent reduction.
They will now pay Sh629 down from Sh729 for similar units in March, 2024.
Additionally, customers under the Domestic Customer 2 (DC2) tariff, consuming an average of 31-100 units, will now pay Sh1,574 down from Sh1,773 in March 2024, representing an 11.2 percent reduction.
Similarly, those under the Domestic Customer 3 (DC3) tariff band, which means consumption of over 100 units per month, will enjoy a 9.7 reduction. That means they will now pay Sh3,728 down from Sh4,127.
On Sunday, EPRA announced a price reduction of Super Petrol, Diesel and Kerosene by Sh5.31 per litre, Sh10.00 per litre and Sh18.68 per litre respectively.
“In the period under review, the maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene decreased by KShs.5.31 per litre, KShs.10.00 per litre and KShs.18.68 per litre respectively.”
“The prices are inclusive of the 16% Value Added Tax (VAT) in line with the provisions of the Finance Act 2023, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020,” said EPRA Director General Daniel Kiptoo.
With the new price changes, Super Petrol will retail at Sh193.84, Diesel Sh180.38 whereas Kerosene will retail at Sh170.06 per litre respectively.
Shortly before the EPRA announcement, President William Ruto had told Kenyans to ‘wait and see Kenya chancge for the better under their own eyes.’