Relief as Kenya Power reduces token prices by 13.7 per cent
By Lucy Mumbi |
EPRA on Sunday, reduced petrol prices by Sh7.21, diesel by Sh5.09 and Kerosene by Sh4.49.
Kenyans are poised to benefit from more affordable electricity after Kenya Power announced a significant reduction in token prices.
In a statement released on Monday, the utility firm reduced token prices by 13.7 per cent for this month (April).
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"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," Kenya Power Managing Director Joseph Siror announced.
Under the new tariff structure, a customer within the Domestic Customer 1 (DC1) category, consuming less than 30 units per month, will see a 13.7 per cent decrease, paying Sh629 in April 2024 compared to Sh729 in March 2024.
Similarly, customers falling under the Domestic Customer 2 (DC2) tariff category, averaging 31–100 units per month, will experience notable savings.
For instance, a customer consuming 60 units will see their bill decrease to Sh1,574 in April 2024, down from Sh1,773 in March 2024, reflecting an 11.2 per cent reduction in costs.
Customers in the Domestic Customer 3 (DC3) tariff band, typically consume more than 100 units per month.
A customer using 120 units monthly will witness a reduction in their bill from Sh4,127 in March to Sh3,728 in April 2024, signalling a 9.7 per cent decrease in expenses.
Petrol station attendants at work at Rubis in Lavington, Nairobi. (Photo: John Mbati)
Why the drop in token prices?
Kenya Power MD Joseph Siror attributed the reduction to the strengthening of the shilling and the decrease in the cost of fuel, which is used to generate electricity.
Siror noted that the fuel cost charge and foreign exchange fluctuation adjustment, key components of the electricity bill, have collectively decreased by 37.3 per cent between March 2024 and April 2024, affecting all customer categories, as gazetted by the Energy and Petroleum Regulatory Authority (EPRA).
Specifically, the fuel cost charge dropped from Sh4.64 in March 2024 to Sh3.26 in April 2024 and the forex adjustment charge was reduced from Sh3.68 to Sh1.96 during the same period.
EPRA on Sunday, reduced petrol prices by Sh7.21, diesel by Sh5.09 and Kerosene by Sh4.49.
As such, fuel prices in Nairobi trade at Sh199.15, Sh190.38 and Sh188.74 for petrol, diesel and kerosene, respectively.
“Access to affordable electricity is key to spurring 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,” Siror stated.
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