Cost of electricity to drop by 15% before Christmas, Says President Kenyatta

President Uhuru Kenyatta has announced that the cost of electricity will reduce by 15 percent before Christmas.

President Kenyatta who made the announcement during the 58th Jamhuri Day celebrations said the reduction will be done in two tranches of 15 percent each.

Previously, during the Mashujaa Day celebrations, the Head of State disclosed  his government's goal to cut electricity prices by at least 33 per cent before the end of the year on the back of various reforms.

The last tranche ending with another 15 per cent cut to the prices will be effected in the quarter ending in March 2022.

"I note that the Ministry of Energy has initiated engagements with independent power producers (IPPs) aimed at renegotiation of power purchase agreements (PPAs), so as to give better value for money for consumers," said President Kenyatta.

"I urge the power producers to demonstrate goodwill as we seek to make our energy sector a greater catalyst of our national development."

During her impromptu visits at Kenya Power installation stations in Roysambu and Industrial Area Energy Cabinet Secretary Monica Juma said the ministry has engaged independent power producers asking them to voluntarily join the negotiation table to review the cost they charge to Kenya Power for electricity purchases.

A task force appointed by President Uhuru Kenyatta in March to probe the Power Purchase Agreement( PPA) showed the IPPs has been greatly attributed for the high cost of electricity as they seemingly 'overcharge' Kenya Power for electricity purchased.