•The Presidential Taskforce on Review of Power Purchase Agreements recommended negotiations with IPPs to secure an immediate reduction in power purchase tariffs. •Energy CS Monica Juma is confident that the cost of electricity will drop by 33 per cent before Christmas, as the government renegotiates power purchase deals. Kenya Power board chairman Vivienne Yeda and […]
KenGen Olkaria One additional unit six steam turbine installation Kenya Electricity Generating Company (KenGen) has hit Kenya Power with Sh3.78 billion in penalties for the past five financial years over delayed payments for electricity supplied. The amount has come on the back of Kenya Power flouting a 40-day window of paying for electricity received from […]
KenGen Hydropower. Featured image: Stock The Energy and Petroleum Regulatory Authority has released a report stating that the Kenya Electricity Generating Company (KenGen) has exceeded expectations in the amount of electricity generated through its hydropower stations. The demand for electricity in Kenya hit a new record rising to a peak of 2,036MW, the highest ever […]
Kenya Power #ticker:KPLC on Friday revealed plans for a larger stake of the electric car market through building countrywide charging points and push for further lowering of import taxes for non-fuel driven cars. The electricity distributor said it would build a network of public electric vehicle charging points, targeting one of the hurdles for use […]
KenGen offices at Ol Karia. The Kenya Electricity Generating Company (KenGen) has recorded a 5.6 per cent increase in the amount of electricity generated through its hydropower stations. According to a recent report by the Energy and Petroleum Regulatory Authority (EPRA), the total installed hydro capacity of the Gitaru, Kindaruma, Samburu, and Kiambere power stations […]
Safaricom PLC headquarters in Westlands, Nairobi. PHOTO | DENNIS ONSONGO | NMG Safaricom has invited bids for firms to install anti-theft systems and smart electricity meters for Kenya Power’s consumers in a deal aimed at curbing power theft and leakages and fixing weaknesses on the utility firm’s transmission network. The telco has asked firms to […]
The company’s debt increased 5.2 times from Sh14.7 billion a year earlier, making the telco one of the biggest corporate borrowers alongside other firms such as KenGen, Kenya Airways and Kenya Power. Safaricom noted that it held cash and cash equivalents of Sh26.4 billion in the review period, placing its net debt at Sh50.5 billion. […]
Kenya Power confirmed 59 staff will be temporarily relieved of their duties to pave way for a forensic audit The company picked an interim procurement lead team to take charge of the division’s business operations as the expected audits gets underway The company explained the exercise was part of the recommendations of the Presidential Taskforce […]
Treasury building World Bank and the IMF pressure could soon force Kenya to sale off loss making state agencies and merge those with duplicate roles to plug budgetary deficits. The two global lenders say this will cut revenue wastage and reduce borrowing, in what would see thousands of public servants sent home. The National Treasury […]
President Uhuru Kenyatta signs the Law of Succession (Amendment) Bill into law at State House on Wednesday, November 17. President Uhuru Kenyatta’s second term has been characterized by high cases of insolvency as companies shut down over what has been termed as the ever skyrocketing cost of doing business. The Jubilee administration, in an effort […]
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