On Wednesday, 24th May 2023, the Kenya Power and Lighting Company announced plans to heavily invest in expanding its network throughout the country. The expenditure for the project is targeted to be Kshs. 10 billion during the financial year beginning in July 2023.
The project will include construction of new substations and power lines with this being with the aim of strengthening its electricity distribution network within the country.
Dr. (Eng) Joseph Siror, the Managing Director and CEO of Kenya Power, highlighted the investment as being aligned with the company’s strategy of strengthening its network to ensure improved quality and reliability of service to its customers.
Read more: Kenya Power Managing Director Defends Increased Tariffs
![REIT Real Estate Investment Trust[Photo/Courtesy]](https://thesharpdaily.com/wp-content/uploads/Real-Estate-Investment-TrustREITs-120x86.jpeg)
The CEO was speaking during the launch of BasiGo’s first public electric bus charging station. He added that the strategic grid investments would provide sufficient capacity for the anticipated increase in the country’s energy demands resulting from growth in new e-mobility and clean cooking areas.
“In the last two years, the country has witnessed an unprecedented interest from local and international stakeholders looking to invest and develop Kenya’s e-mobility sector. To adequately support e-mobility and other sectors of the economy, we will sustain investments to strengthen the grid and enhance network stability and flexibility for quality and reliable service,” he said.
With the planned investment in expansion, many Kenyans will hope that the rising electricity costs might wane and finally stop, given the high costs of living that have continued to batter households’ incomes. Electricity has shot up, with Kenyans paying Kshs. 26.10 per unit from April 1st 2023, up from Kshs 21.99 per unit, a 19% increase for those consuming between 30 and 100 units per month.
Read more: Tough Times For Kenya Power As It Records A KSh1.1Bn Half Year Loss
The hope is that a better distribution infrastructure, coupled with enhanced investment and production from renewable sources, such as the Olkaria project, might reduce electricity wastage and therefore pass on the savings to consumers.
However, Kenya Power has announced a Kshs. 1.14 billion loss in February 2023 for the half-year ended December 2023, Kenyans might have to weather higher prices for a while longer as the firm waits to return to profitability.
Email your news TIPS to editor@thesharpdaily.com
