Sharp Daily
No Result
View All Result
Monday, September 7, 2026
  • 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’s MPs reject Levy hike, approve crude oil regulation

Teresiah Ngio by Teresiah Ngio
November 22, 2024
in News
Reading Time: 1 min read

Kenya’s lawmakers have rejected a proposal to amend the Energy Act of 2019, which aimed to double the levies on electricity and petroleum. The proposed amendment, part of the Statute Law (Miscellaneous Amendments) Bill, sought to increase the Energy and Petroleum Regulatory Authority (EPRA)’s levies from 0.5% to 1%.

The rejection was led by the National Assembly Energy Committee Chair, Vincent Musau, who argued that increasing the levies would place an unnecessary burden on consumers already struggling with high energy costs. “Doubling these charges would place an additional burden on consumers at a time when we are striving to lower energy costs,” Musau stated.

Other lawmakers voiced strong opposition to the amendment, emphasizing the negative impact it would have on households. “Kenyans are struggling with high electricity bills. Raising EPRA’s levy from 0.5% to 1% is unacceptable, and I fully support removing this amendment,” said Marakwet West MP Kangongo Bowen.

Mathare MP Anthony Oluoch raised concerns over the broader economic impact, warning that higher energy costs could discourage investment. “High electricity costs could deter investors and drive them to neighboring countries with cheaper energy,” Oluoch said. Funyula MP Wilberforce Oundo also expressed support for the rejection, highlighting Kenya’s already high electricity costs compared to global standards.

RELATEDPOSTS

Kenyan MPs reject new peacebuilding commission proposal

November 19, 2024

MPs push for KES 13 billion increase in NG-CDF budget

September 14, 2024

In contrast, lawmakers approved other amendments to the bill, including granting EPRA the authority to regulate crude oil, in line with Kenya’s growing petroleum exploration efforts, particularly in Turkana County. “We are preparing for the regulation of crude oil… for managing transit and pipeline operations for potential customers,” Musau explained.

Additionally, MPs approved tougher penalties for energy infrastructure theft, including the confiscation of vehicles used in transporting stolen equipment. “This is a serious offense that plunges entire communities into darkness. Thieves must face severe consequences,” said MP Mary Emaase.

Previous Post

Affordable housing units launched across 17 counties

Next Post

Rachel Ruto launches initiative to combat hunger in schools

Teresiah Ngio

Teresiah Ngio

Related Posts

News

Understanding what investors are really paying for (Enterprise value vs. Equity value)

September 7, 2026
Analysis

Kenya holds central bank rate at 8.75%

September 4, 2026
News

The Power of Compound Interest in Building Your Retirement Fund

September 4, 2026
News

Election Cycles and Investments in Kenya: Positioning Ahead of 2027

September 4, 2026
News

A Strong Brand Does Not Always Make a Strong Investment

September 4, 2026
News

When Weak Financial Controls Become an Investment Risk

September 4, 2026

LATEST STORIES

KRA

KRA now cross checks your tax returns against eTIMS, customs and withholding data

September 7, 2026

Understanding what investors are really paying for (Enterprise value vs. Equity value)

September 7, 2026

Kenya holds central bank rate at 8.75%

September 4, 2026

How financial institution failures affect the wider economy

September 4, 2026

The Power of Compound Interest in Building Your Retirement Fund

September 4, 2026

Election Cycles and Investments in Kenya: Positioning Ahead of 2027

September 4, 2026

The Fed’s September Dilemma: Inflation, Oil and the Jobs Market

September 4, 2026

A Strong Brand Does Not Always Make a Strong Investment

September 4, 2026
  • 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