KenGen CEO Announces Drop in Electricity Prices

KenGen CEO Announces Drop in Electricity Prices

KenGen CEO Announces Drop in Electricity Prices

Following a surplus of hydropower, Kenyans should expect lower electricity rates, according to Chief Executive Officer Peter Njenga of Kenya Electricity Generating Company (KenGen).Njenga said in a statement on Monday that higher water levels at the nation’s principal dams in the Seven Forks Cascade contributed to an increase in power generation.

He added that the largest dam in Kenya, Masinga Dam, reached almost its maximum elevation of 1,056 meters above sea level (mASL).In just three days, water from Aberdares and Mount Kenya filled the dam.

In the last 24 hours alone, the power station recorded a peak output of more than 471MW which, the company noted, will go a long way in stabilizing grid-scale electricity costs.“We are happy to report that we are receiving very good inflows from the Mount Kenya and Aberdares catchment areas which has led to high water levels at our dams,” the CEO stated.

“Kenyans will see the full benefit of cheaper electricity,” he continued.The cost of power increased by 8.7% per unit in January, according to the Energy and Petroleum Regulatory Authority (EPRA).

Accordingly, the price for Kenyans was Ksh3.98 per unit until January, when it went up to Ksh4.33 per unit.The foreign exchange rate fluctuation adjustment, or Ferfa, increased by 103.7% as a result of the shilling’s volatility, which therefore affected the prices.

Right now, Ksh 150 can only purchase 4.69 electricity units.Njenga gave Kenyans further assurance, pointing out that they do not anticipate water spilling downstream anytime soon. This was especially important to those who reside downstream of the five dams.

“We have not reached spilling level at our largest dam, Masinga, even though we are getting close to its maximum water levels. This is because our engineers have put in place a strong water management program. But we’re still on guard, and we’ll let you know if we think there might be a water overflow from the big dams,” he said.

KenGen disclosed that the business has observed a decrease in inflows throughout the past week, providing additional reassurance that Masinga Dam won’t burst anytime soon.