Cost of power in Kenya expected to fall as it migrates to renewable sources
Cost of energy in Kenya is expected to fall as the government moves toward renewable sources of energy. The Energy Secretary rejected the country's Power bid to increase electricity tariffs.
Mon, 30 Sep 2019 15:07:10 GMT
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AI Generated Summary
- Kenya Power's practice of passing on macro factor fluctuations to consumers has led to increased electricity tariffs, but government intervention aims to make the power company more efficient in cost management to benefit consumers.
- The government of Kenya is supportive of the power sector's shift towards renewable energy and has set a target of achieving universal access to electricity for all citizens by 2023.
- Companies like Azuri are expanding their off-grid electricity solutions in markets like Kenya, Tanzania, and Nigeria, leveraging mobile money and partnerships to enhance accessibility and affordability.
Kenya is making strides in the energy sector as it moves towards renewable sources of power, with the government's focus on increasing access to electricity for all citizens. Snehar Shah, the General Manager for East Africa at Azuri, a company specializing in off-grid electricity solutions, recently discussed the positive impact of this transition on the cost of power in the country. In a recent interview on CNBC Africa, Shah pointed out that Kenya Power has historically passed on fluctuations in macro factors like inflation and oil prices to consumers, resulting in increased electricity tariffs. However, the government's intervention to halt this practice is expected to make Kenya Power more efficient in managing costs, ultimately benefiting consumers. Shah expressed gratitude to the government for its support of the power sector and its commitment to achieving universal access to electricity for all Kenyan citizens by 2023. This move towards renewable energy sources is not only beneficial for the environment but also paves the way for more affordable and sustainable power solutions in the country. As Kenya embraces renewable energy, the cost of power is expected to decrease, offering a positive outlook for both consumers and the energy sector as a whole.
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