Electricity consumers are set to enjoy a reduction in prices starting from midnight, offering some relief to households and businesses alike.
The Ministry of Energy has announced on Wednesday, February 07, that electricity prices across all consumer categories will decrease by Ksh.3.44 per unit.
Explaining the rationale behind the adjustment, Energy Principal Secretary Alex Wachira attributed the drop to the foreign exchange adjustment rate.
“Foreign exchange adjustment dropped from Ksh.6.46 per kilowatt hour to Ksh.3.22 per kilowatt hour owing to a decrease in the total foreign currency exchange payments made in January,” stated PS Wachira.
As of February 8th, 2024, the exchange rate stood at 1 dollar had stabilized trading at Ksh.160.50.
Additionally, PS Wachira pointed out that the price changes were also influenced by a marginal reduction in the Fuel Energy Cost, which decreased by 19 cents.
The adjustments will take effect immediately for prepaid users, while post-pay users can expect to see reduced bills by the end of February.
