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Kenyans to pay more for electricity due to rise in foreign exchange rate

Devdiscourse News Desk | Nairobi | Updated: 12-10-2020 12:41 IST | Created: 12-10-2020 12:41 IST
Kenyans to pay more for electricity due to rise in foreign exchange rate
Representative image Image Credit: Reuters

From the beginning of October 2020 Kenyans are expected to pay more for electricity due to the rise in the foreign exchange rate of the shilling against the dollar, according to a news report by Kenyans.co.ke.

The foreign exchange adjustment component of the power bill doubled in one month between September and October and was likely to raise the power prices to a 2-year high.

The COVID-19 pandemic has drastically weakened the shilling against the dollar which in result increased the price of electricity. The foreign exchange component rose to Ksh1.07 per unit in October from Ksh0.57 per unit or kilowatt-hour (kWh) in September.

The Energy and Petroleum Regulatory Authority (Epra) in a notice on October 9.has said, "Notice is given that all prices for electrical energy… will be liable to a foreign exchange fluctuation adjustment of plus 107.31 cents per kWh for all meter readings taken in October 2020."

The publication further indicated that the rise in the exchange power component was geared to hit high levels experienced in July 2018 where it rose to Ksh1.22 per unit.

In February, power consumers in the country were treated to a negative rate that meant that for every token purchased, they would benefit from free units.



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