In Summary:
- Effective midnight, Kenyan electricity consumers will enjoy reduced electricity prices, with the Ministry of Energy announcing a significant decrease of Ksh.3.44 per unit for all consumer categories.
- Principal Secretary Alex Wachira attributes the price drop to a notable decline in the foreign exchange rate, now at Ksh.3.22 per kilowatt hour, and a marginal reduction of 19 cents in the Fuel Energy Cost. This brings immediate relief to prepaid users and anticipates savings for post-pay users by February’s end.
Electricity consumers across Kenya can anticipate a decrease in their electricity bills starting midnight, as announced by the Ministry of Energy. The price reduction, amounting to Ksh.3.44 per unit, applies to all types of consumers, offering much-needed relief to households and businesses alike.
Principal Secretary of Energy, Alex Wachira, explained that the price adjustments are a direct result of improvements in key economic indicators.
He emphasized, “Foreign exchange adjustment dropped from Ksh.6.46 per kilowatt hour to Ksh.3.22 per kilowatt hour owing to a decrease in the total foreign currency exchange payments made in January,” he said on Wednesday.
The notable drop in the foreign exchange adjustment rate reflects reduced foreign currency exchange payments made in January. This positive change has paved the way for substantial savings for consumers across the board.
Furthermore, Wachira highlighted a marginal reduction in the Fuel Energy Cost, contributing to the overall decrease in electricity prices. The drop of 19 cents in fuel costs is expected to further alleviate financial burdens on electricity users.
The implementation of these price adjustments will take effect immediately for prepaid users, who will notice the changes in their electricity tariffs from midnight onwards.
For post-pay users, the reduced electricity bills will reflect in their statements by the end of February, offering long-term relief and financial stability.
This move is set to ease the financial strain on households and businesses, providing a welcomed respite amidst challenging economic conditions. With lower electricity prices, consumers can allocate their resources more efficiently, contributing to overall economic stability and growth in the country.