We will pay more for Electrical power after the Energy and Petroleum Regulatory Authority increased the fuel component of our bills for the second month thus higher power prices
The fuel cost charge has risen by 4.41 percent for October. This is after the month of September saw it rise astronomically by over 46.6 Percent due to high fuel prices. The FCC has gone upto Kshs. 7.09 per kiloWatt-hour up from Kshs. 6.79 the month of September. Simply put; For those who were spending Kshs. 1,209.00 for 62.75 units of tokens last month will now part with Kshs. 1,208.00 for the same number of units representing a percentage increase of 2.4.
The foreign exchange rate fluctuation has also been raised by 8.8 percent to Kshs. 1.48 per unit as a result of our weak currency compared to the dollar for which it has slumped further downwards this past month.
There is some good news though; in the near future. Kenya is looking for alternative sources of power to cut on the share of thermal generated power and enhancement of power supply, Kenya will be importing cheaper hydroelectric energy from Ethiopia beginning next month after a Power purchase agreement was officialy signed in July.
In the agrement, Kenya will purchase 200MegaWatts in the first three years of the 25 year agreement. Thereafter, the capacity will be upped to 400MW.
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