FEATURED ARTICLE

Regulator Denies Increase in Electricity Prices

Share
The Energy and Petroleum Regulatory Authority (EPRA) denies power costs are going up.
Share

The Energy and Petroleum Regulatory Authority (EPRA) has denied claims of electricity price increases for the month of June 2020.

In a statement, EPRA says that it reviewed the base energy charge rates in July 2018 and the rates have remained grounded since then.

“Each month, EPRA computes and gazettes the applicable pass-through parameters including the Fuel Energy Cost (FEC), Forex Adjustment (FOREX ADJ.), and Water Resources Management Authority (WRMA) levy and reviews the Inflation Adjustment biannually,” EPRA said in a statement.

“The Inflation Adjustment and the WRMA levy have remained relatively stable over the past twelve (12) months,” further read the statement.

According to EPRA Director-General Pavel Oimeke, fuel energy costs have been declining as a result of good hydrology as well as the government’s efforts “to shift away from expensive and dirty energy sources to cleaner and renewable sources of energy like solar and wind”.

The clarification statement issued by EPRA followed reports by different media outlets that quoted a fake notice by Oimeke that increased the fuel energy cost charge by Ksh2.40 per kWh (Kilowatts per hour).

“This change was made pursuant to clause 2 of Part III of the Schedule of Tariffs 2018. All prices for electrical energy will also be liable to a foreign exchange fluctuation adjustment of plus 31.84 Kenyan cents per kWh,” the said Gazette notice said.

The new pricing was alleged to take effect from all meter readings of June 2020.

See Also>>> Too Much Clean Energy But Why Aren’t Power Prices Coming Down?

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PAST ARTICLES AND INSIGHTS

Related Articles
East African Portland Cement EAPCC Company www.businesstoday.co.ke
BUSINESS

EAPCC Net Earnings Up 377% to KSh 5.5Billion in 2025

(EAPCC)East African Portland Cement Company, a listed cement maker that is majority...

Absa Bank Kenya
BUSINESSFEATURED ARTICLE

South Africans Take Huge Bets on Kenya’s lucrative Banking Business

South African banks are at the forefront of African lenders seeking for...

NSE
BUSINESS

NSE Introduces Options on Futures Contracts for Six Listed Stocks. A Brief Explainer

The Nairobi Securities Exchange (NSE) has announced the launch of Options on...

airtel money
BUSINESS

Airtel Money partners with KCB Agents to Drive Customer Convenience

Airtel Money and KCB Bank have today unveiled a partnership that will...