Sharp Daily
No Result
View All Result
Monday, July 7, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Kenya Power to recover KES 548 million tariff cut from February

Austin Wekesa by Austin Wekesa
February 9, 2024
in News
Reading Time: 2 mins read

Kenya Power and Lightning Company (KPLC) has received authorization from the Energy and Petroleum Regulatory Authority (EPRA) to recover KES 548 million, which it missed due to the tariff reduction initiated by former President Uhuru Kenyatta, from the electricity bills of the current month.

EPRA’s decision allows KPLC to recoup KES 6.5 billion lost during the implementation of a 15% tariff reduction in January 2022, a measure that was extended by President William Ruto until March 2023.

The initial tariff cut resulted in a revenue loss of KES 26 billion, and the extension incurred an additional loss of KES 6.5 billion. To offset this financial setback, EPRA permitted KPLC to recover the funds gradually through customer bills.

The current KES 548 million recovery represents the second installment in a series of 12. EPRA explained that the reduction in electricity prices for February, amounting to KES 3.4 per unit, would have been more substantial if not for the ongoing recovery efforts. This decrease is attributed to a notable decrease in forex adjustments due to reduced foreign currency exchange payments in January 2023.

RELATEDPOSTS

Let’s power rural Kenya’s economic revival

April 29, 2025

Kenya Power targets 150,000 new customers in Phase VI of last mile project

April 9, 2025

Initially, the KES 26 billion revenue loss was distributed among various energy sector entities, with the government providing reimbursements to KPLC.

Kenya Electricity Generating Company (KenGen) offered a KES 3.5 billion discount, Kenya Electricity Transmission Company provided an KES 800 million discount, and the Geothermal Development Company assumed KES 500 million of the burden.

Taking into account the revenue losses from tariff cuts and forex fluctuations, KPLC reported a net loss of KES 3.19 billion for the financial year ending June 2023.

Previous Post

Impact of the Samurai Bond decision on Kenya

Next Post

Investors confidence surge with Kenya’s Eurobond repurchase plan

Austin Wekesa

Austin Wekesa

Related Posts

Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025

LATEST STORIES

The importance of Investment Policy Statements (IPS) for pension schemes in Kenya

July 4, 2025

Understanding Life Cover as an Additional Benefit in Retirement Benefit Schemes

July 4, 2025

Del Monte foods files for bankruptcy in USA

July 3, 2025

Lessons from the Kuramo-TransCentury fallout

July 3, 2025

Private vs Public Pension Funds in Kenya

June 30, 2025

The mechanics of currency manipulation

June 27, 2025

Understanding how to access your pension savings in Kenya.

June 27, 2025

What happened to president Ruto’s economic dream?

June 27, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024