<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>Kenya Power and Lighting Company Archives • The Electricity Hub</title> <atom:link href="https://theelectricityhub.com/tag/kenya-power-and-lighting-company/feed/" rel="self" type="application/rss+xml" /> <link>https://theelectricityhub.com/tag/kenya-power-and-lighting-company/</link> <description>Collating and Disseminating Credible Power Industry Data and Information</description> <lastBuildDate>Thu, 09 Jan 2025 10:47:29 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.1</generator> <image> <url>https://theelectricityhub.com/wp-content/uploads/2020/11/cropped-NEH-32x32.png</url> <title>Kenya Power and Lighting Company Archives • The Electricity Hub</title> <link>https://theelectricityhub.com/tag/kenya-power-and-lighting-company/</link> <width>32</width> <height>32</height> </image> <item> <title>KPLC Share Price Rises by 367% a Year After CEO’s Promise</title> <link>https://theelectricityhub.com/kplc-share-price-rises-by-367-a-year-after-ceos-promise/</link> <comments>https://theelectricityhub.com/kplc-share-price-rises-by-367-a-year-after-ceos-promise/#respond</comments> <dc:creator><![CDATA[Martins Eze]]></dc:creator> <pubDate>Thu, 09 Jan 2025 10:47:17 +0000</pubDate> <category><![CDATA[East Africa]]></category> <category><![CDATA[News]]></category> <category><![CDATA[On-Grid]]></category> <category><![CDATA[Kenya Power and Lighting Company]]></category> <category><![CDATA[Nairobi Securities Exchange]]></category> <category><![CDATA[Share price]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=98575</guid> <description><![CDATA[<p>The Kenya Power and Lighting Company (KPLC) on January 8 announced an impressive 367 per cent increase in its share price. In a statement, the company highlighted this significant surge… </p> <p>The post <a href="https://theelectricityhub.com/kplc-share-price-rises-by-367-a-year-after-ceos-promise/">KPLC Share Price Rises by 367% a Year After CEO’s Promise</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li>The Kenya Power and Lighting Company (KPLC) on January 8 announced an impressive 367 per cent increase in its share price.</li> <li>One of the key strategies involved is developing mechanisms to monitor and evaluate all projects, initiatives, and interventions to ensure accountability.</li> <li> </li> </ul> <p>The Kenya Power and Lighting Company (KPLC) on January 8 announced an impressive 367 per cent increase in its <a href="https://theelectricityhub.com/?s=share+price">share price</a>.</p> <p>In a statement, the company highlighted this significant surge at the Nairobi Securities Exchange (NSE), with its shares rising from Ksh 1.38 in December 2023 to Ksh 6.44 as of Tuesday, January 7, 2025.</p> <p>“This impressive performance is largely driven by a turnaround strategy that the Company has been implementing under the leadership of the Board of Directors and with support from the Government of Kenya,” read the statement.</p> <p>One of the key strategies involved, developing mechanisms to monitor and evaluate all projects, initiatives, and interventions to ensure accountability.</p> <p>These frameworks generated data provided insights and offered key lessons for future decision-making and initiative prioritization.</p> <p><a href="https://theelectricityhub.com/?s=KPLC+">KPLC</a> also established a communication framework designed for both internal and external audiences, ensuring that all stakeholders are informed about current and upcoming initiatives. The framework also focuses on documenting and sharing the results of these initiatives.</p> <p>To achieve its communication objectives and effectively connect with key stakeholders, KPLC leveraged its existing structures, including its Sales and Marketing teams and Corporate Communications departments.</p> <p>The company reported a net profit of Ksh 30 billion for the financial year 2023/24, attributed to several factors, including:</p> <ul class="wp-block-list"> <li> A 21 per cent increase in sales, reaching Ksh 231.12 billion, driven by the addition of new customers, increased economic activity, and a revised cost-reflective tariff structure.</li> <li>A decrease in finance costs by Ksh 24.84 billion, resulting from the Kenyan Shilling strengthening against major global currencies.</li> <li>A profit before tax of Ksh 43.67 billion, compared to a loss before tax of Ksh 4.43 billion in the previous period.</li> </ul> <p>The post <a href="https://theelectricityhub.com/kplc-share-price-rises-by-367-a-year-after-ceos-promise/">KPLC Share Price Rises by 367% a Year After CEO’s Promise</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/kplc-share-price-rises-by-367-a-year-after-ceos-promise/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Kenyan Parliament Move to End Monopoly on Electricity Meters</title> <link>https://theelectricityhub.com/kenyan-parliament-move-to-end-monopoly-on-electricity-meters/</link> <comments>https://theelectricityhub.com/kenyan-parliament-move-to-end-monopoly-on-electricity-meters/#respond</comments> <dc:creator><![CDATA[Martins Eze]]></dc:creator> <pubDate>Fri, 22 Mar 2024 15:35:09 +0000</pubDate> <category><![CDATA[East Africa]]></category> <category><![CDATA[Metering]]></category> <category><![CDATA[News]]></category> <category><![CDATA[On-Grid]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Electricity meters]]></category> <category><![CDATA[Kenya Power and Lighting Company]]></category> <category><![CDATA[Kenyan Parliament]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=86387</guid> <description><![CDATA[<p>Members of the Kenyan Parliament have initiated a move to break the monopoly held by Kenya Power and Lighting Company (KPLC) over the sale of electricity meters. This initiative is part… </p> <p>The post <a href="https://theelectricityhub.com/kenyan-parliament-move-to-end-monopoly-on-electricity-meters/">Kenyan Parliament Move to End Monopoly on Electricity Meters</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Members of the Kenyan Parliament have initiated a move to break the monopoly held by Kenya Power and Lighting Company.</li> <li class="">The committee intends to remove barriers hindering other firms from selling meters directly to consumers.</li> </ul> <p class="">Members of the Kenyan Parliament have initiated a move to break the<a href="https://theelectricityhub.com/?s=+monopol"> monopoly</a> held by Kenya Power and Lighting Company (KPLC) over the sale of electricity meters. This initiative is part of a larger effort to address delays in connecting thousands of Kenyan households to the national power grid.</p> <p class="">The National Assembly Energy Committee announced plans to develop a Bill that would introduce more licensed entities authorised to sell electricity meters. This move seeks to ensure that consumers are not solely reliant on Kenya Power for meter procurement.</p> <p class="">Also, the committee intends to remove barriers hindering other firms from selling meters directly to consumers. However, meters sold by alternative vendors will still require coding by <a href="https://theelectricityhub.com/?s=++Kenya">Kenya</a> Power and certification by the utility firm’s engineers before installation.</p> <p class="">Vincent Musyoka, the chairman of the committee, highlighted the potential benefits of this initiative, stating, <em>“We will have shops across the country selling meters to Kenyans, so that you just walk into a shop, buy the meters, and call an authorised Kenya Power engineer to connect the electricity for you without necessarily going to Kenya Power offices.”</em></p> <p class="">He emphasised that this move would boost Kenya Power’s revenue and reduce the waiting time for electricity connections, citing cases where 21,231 Kenyans paid Ksh 966,901,128. Individuals have waited up to 11 years despite making payments.</p> <p>The post <a href="https://theelectricityhub.com/kenyan-parliament-move-to-end-monopoly-on-electricity-meters/">Kenyan Parliament Move to End Monopoly on Electricity Meters</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/kenyan-parliament-move-to-end-monopoly-on-electricity-meters/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Kenya Power’s Debt to Ormat Hits $30.6m</title> <link>https://theelectricityhub.com/kenya-powers-debt-to-ormat-hits-30-6m/</link> <comments>https://theelectricityhub.com/kenya-powers-debt-to-ormat-hits-30-6m/#respond</comments> <dc:creator><![CDATA[Blessing Afolabi]]></dc:creator> <pubDate>Mon, 11 Mar 2024 10:29:46 +0000</pubDate> <category><![CDATA[East Africa]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Geothermal Energy]]></category> <category><![CDATA[Kenya]]></category> <category><![CDATA[Kenya Power and Lighting Company]]></category> <category><![CDATA[KPLC]]></category> <category><![CDATA[Ormat Technology]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=85797</guid> <description><![CDATA[<p>The amount of cash owed by Kenya Power and Lighting Company (KPLC) to US energy firm Ormat Technology for electricity supplies has hit Sh4.31 billion. This is because the geothermal… </p> <p>The post <a href="https://theelectricityhub.com/kenya-powers-debt-to-ormat-hits-30-6m/">Kenya Power’s Debt to Ormat Hits $30.6m</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">KPLC owed Ormat $62.8 million by December 31, 2023, but only paid $32.2 million in January and February 2024, leaving a balance of $30.6 million.</li> <li class="">The outstanding debt is a drastic jump from December 2023, when KPLC owed the US firm Sh1.6 billion.</li> </ul> <p class="">The amount of cash owed by Kenya Power and Lighting Company (<a href="https://theelectricityhub.com/?s=kenya+power">KPLC</a>) to US energy firm Ormat Technology for electricity supplies has hit Sh4.31 billion. This is because the geothermal firm warns of financial exposure due to the deteriorating pace of payments by the state-owned utility.</p> <p class="">The <a href="https://www.businessdailyafrica.com/bd/corporate/companies/us-electricity-firm-jittery-as-kenya-power-debt-hits-sh4bn--4551718">latest regulatory</a> filings by the Naivasha-based geothermal power producer showed that KPLC owed it $62.8 million (Sh8.81 billion) by December 31, 2023, but only paid $32.2 million (Sh4.5 billion) in January and February 2024, leaving a balance of $30.6 million (Sh4.31billion).</p> <p class="">The outstanding debt is a drastic jump from December 2023, when KPLC owed the US firm Sh1.6 billion. “In the electricity segment, we are exposed to the credit and financial condition of KPLC, which buys the power generated from our Olkaria III complex in Kenya. In 2023, KPLC accounted for 13.2 per cent of our total revenues.</p> <p class="">“There has been a deterioration in the collection from KPLC, which has become slower than in the past. As of December 31, 2023, the amount overdue from KPLC in Kenya was $62.8 million (Sh8.81 billion), of which they paid $32.2 million (Sh4.31 billion) in January and February of 2024,” the firm added.</p> <p class="">The US firm operates within the Naivasha-based Olkaria III complex through its wholly-owned subsidiary, OrPower 4, Inc., with an output capacity of 150 megawatts (MW) of geothermal power. The company sells the electricity produced by its power plants in Olkaria to KPLC under a 20-year power purchase agreement (PPA) that ends between 2033 and 2036.</p> <p class="">Ormat said its revenues from power sales in Kenya totalled Sh15.29 billion ($109.21 million) in 2023, a slight rise from Sh14.81 billion ($105.83 million) the previous year. Kenya Power reported a net loss of Sh3.19 billion for the entire year, which ended June 2023, following a sharp rise in financing costs on its hard currency obligations due to the weakening of the shilling in the forex market.</p> <p class="">The performance of the Nairobi Securities Exchange-listed utility, however, rebounded in the six months that ended December 2023 to post a Sh319 million net profit on increased electricity sales and an upward review of tariffs, lifting it from its loss position.</p> <p class="">The utility firm’s unaudited results released on February 23, 2024, showed it had emerged from the Sh1.15 billion net loss it posted in the preceding similar period. Kenya Power’s revenue from electricity sales for the half year to December 31, 2023, increased by 31.3 per cent from Sh86.67 billion to Sh113.55 billion, coming in the period Kenya Power said it connected 225,000 new customers to the grid, surpassing its target by 13.87 per cent.</p> <p class="">Ormat said it expects to impact its earnings as KPLC negotiated lower rates under the existing PPA. According to Orman, KPLC recently requested more favourable rates on existing PPAs with it. Furthermore, any change in KPLC’s financial condition or the terms of the agreement with KPLC may adversely affect the firm.</p> <p>The post <a href="https://theelectricityhub.com/kenya-powers-debt-to-ormat-hits-30-6m/">Kenya Power’s Debt to Ormat Hits $30.6m</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/kenya-powers-debt-to-ormat-hits-30-6m/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Kenya Power Grew Electricity Sales in 2023</title> <link>https://theelectricityhub.com/kenya-power-grew-electricity-sales-in-2023/</link> <comments>https://theelectricityhub.com/kenya-power-grew-electricity-sales-in-2023/#respond</comments> <dc:creator><![CDATA[Blessing Afolabi]]></dc:creator> <pubDate>Wed, 10 Jan 2024 08:08:00 +0000</pubDate> <category><![CDATA[East Africa]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Kenya]]></category> <category><![CDATA[Kenya Power and Lighting Company]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=83593</guid> <description><![CDATA[<p>Kenya Power and Lighting Company registered a growth in electricity sales. However, the utility firm reported a loss before tax amounting to KSh4.434 million ($27,890) compared to a profit before… </p> <p>The post <a href="https://theelectricityhub.com/kenya-power-grew-electricity-sales-in-2023/">Kenya Power Grew Electricity Sales in 2023</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[ <ul class="wp-block-list"> <li class="">Kenya Power reduced operating costs by KSh2.08bn ($13,084,994) from KSh36.99bn ($232,677,071) to KSh34.91bn ($219,718,397).</li> <li class="">Kenya Power connected 318,217 new customers to the grid during the period.</li> </ul> <p class="">Kenya Power and Lighting Company registered a growth in electricity sales. However, the utility firm reported a loss before tax amounting to KSh4.434 million ($27,890) compared to a profit before tax of KSh4,785 million ($30,115) the previous year. The loss was mainly attributed to an 89 per cent increase in finance costs due to the depreciation of the Kenyan shilling against major global currencies in that period. <a href="https://theelectricityhub.com/?s=kenya+power">Kenya Power</a> reduced operating costs by KSh2.08bn ($13,084,994) from KSh36.99bn ($232,677,071) to KSh34.91bn ($219,718,397). This report covers the financial year ending June 2023. </p> <p class="">At the same time, provisions for electricity debt and other receivables escalated by KSh3.2bn ($20,130,5640) primarily due to an increase in unsettled customer debts during the year under review. The unavailability of critical materials for connectivity and system expansion projects proved a persistent challenge. Still, Kenya Power connected 318,217 new customers to the grid during the period. This raised the Kenyan electricity utility’s total number of customers to 9.2 million as of the end of June 2023.</p> <p class="">In Kenya Power’s annual statement, the Chairman of the Board of Directors, Joy Brenda Masinde, said, “Our accelerated procurement and connectivity drive will see the backlog of 320,000 customers awaiting connection furnished with new meters and connected by the end of this calendar year.” The utility said the growth in the number of customers contributed to a 4.4 per cent increase in electricity sales, from 9,163GWh the previous year to 9,567GWh. This then saw revenue from electricity sales grow by 21 per cent from KSh157.35bn ($989,694,585) to KSh190.98bn ($1,201,219,396). This growth had a corresponding 5.2 per cent increase in energy purchased, from 11,815GWh units purchased to 12,425GWh.</p> <p>The post <a href="https://theelectricityhub.com/kenya-power-grew-electricity-sales-in-2023/">Kenya Power Grew Electricity Sales in 2023</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/kenya-power-grew-electricity-sales-in-2023/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Kenya MPs Probe Sham Payments to Lake Turkana Wind Power</title> <link>https://theelectricityhub.com/kenya-mps-probe-sham-payments-to-lake-turkana-wind-power/</link> <comments>https://theelectricityhub.com/kenya-mps-probe-sham-payments-to-lake-turkana-wind-power/#respond</comments> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Thu, 24 Nov 2022 07:32:30 +0000</pubDate> <category><![CDATA[East Africa]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Kenya]]></category> <category><![CDATA[Kenya Members of Parliament]]></category> <category><![CDATA[Kenya Power and Lighting Company]]></category> <category><![CDATA[Lake Turkana Wind Power]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=73874</guid> <description><![CDATA[<p>Kenya National Assembly Departmental Committee on Energy probes KPLC. Lake Turkana Wind Power wired millions of shillings to wrong accounts. The National Assembly Departmental Committee on Energy is probing the… </p> <p>The post <a href="https://theelectricityhub.com/kenya-mps-probe-sham-payments-to-lake-turkana-wind-power/">Kenya MPs Probe Sham Payments to Lake Turkana Wind Power</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></description> <content:encoded><![CDATA[<ul> <li><span data-preserver-spaces="true">Kenya National Assembly Departmental Committee on Energy probes KPLC.</span></li> <li><span data-preserver-spaces="true">Lake Turkana Wind Power wired millions of shillings to wrong accounts.</span></li> </ul> <p><span data-preserver-spaces="true">The National Assembly Departmental Committee on Energy is probing the apocryphal payment of millions of shillings paid to Kenya Power and Lighting Company (KPLC) for unsupplied power.</span></p> <p><span data-preserver-spaces="true">Kenya Members of Parliament (MPs) will probe KPLC officials over Sh600 million in excess paid to the Lake Turkana Wind Power (LTWP) for a project in Marsabit.</span></p> <p><span data-preserver-spaces="true">Former Kenya Electricity Transmission Company Limited (Ketraco) Managing Director Fernandes Barasa resigned hours before responding to the National Assembly Public Investments Committee (PIC) audit queries.</span></p> <p><span data-preserver-spaces="true">The PIC had also invited Senior Kenya Power Managers to explain why the money was paid. LTWP is said to have wired millions of shillings to wrong accounts, raising concerns among Parliamentarians.</span></p> <p><span data-preserver-spaces="true">The Committee is curious and wants to investigate why KPLC provided LTWP with erroneous accounts and who was responsible for the act. Thus, the MPs were baffled by Fernandes Barasa’s abrupt resignation when he was supposed to appear before the Committee.</span></p> <p>The post <a href="https://theelectricityhub.com/kenya-mps-probe-sham-payments-to-lake-turkana-wind-power/">Kenya MPs Probe Sham Payments to Lake Turkana Wind Power</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/kenya-mps-probe-sham-payments-to-lake-turkana-wind-power/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> </channel> </rss>