M a r k e t N e w s
Kenya: Electricity Prices to Drop Through Ongoin Power Project
Posted on : Friday, 15th August 2014
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Kenyans will benefit from approximately 47 percent reduction in electricity prices in the next three years owing to increased generation from cheaper sources of power, Principal Secretary for Energy and Petroleum, Eng. Joseph Njoroge, has said.
Njoroge said generation projects for the 5,000 MW additional capacity in the medium term are well on course with electricity prices for domestic customers expected to come down from the current average of US dollars (USD) 19 cents to USD10 cents per unit.
He said large power consumers, who include manufacturers and industrialists, should anticipate approximately 40 percent reduction in power bills over the same period with unit prices expected to drop significantly from an average of USD15 to USD9.
Njoroge was speaking on Sunday at a media briefing session in Thika where he witnessed a Sh55 million power upgrade project aimed at stabilizing power supply to the town's Central Business District and its industrial customers.
"We understand too well that without adequate, competitively-priced and reliable electricity supply, the country's Vision 2030 and all its aspirations will only remain in blueprint. The ongoing power projects is all about making it easier to do business in Kenya, it's about creating opportunities and jobs for all Kenyans, " he said.
Speaking at the event, Kenya Power Managing Director & CEO, Dr. Ben Chumo, said the Company is implementing a countrywide operation to upgrade the power network ahead of the expected additional generation capacity.
Dr. Chumo said the additional 5,000 MW will increase the country's effective generation capacity by about 300% from the current 1,652 MW to 6,652 MW.
Source : www.allafrica.com
