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Revenue from electricity sales increased by 31.3% from Sh86.67 billion to Sh113.55 billion. The Nairobi Securities Exchange-listed firm said it has 225,000 new customers to the grid surpassing its target by 13.87 percent
Kenya Power has posted a Sh319 million net profit for the six months ended December 2023 on increased electricity sales and an upward review of tariff, lifting it from a loss position. The utility firm’s unaudited results released recently showed it had emerged from the Sh1.15 billion net loss it posted in the preceding similar period.
Revenue from electricity sales increased by 31.3% from Sh86.67 billion to Sh113.55 billion. The Nairobi Securities Exchange-listed firm said it has 225,000 new customers to the grid surpassing its target by 13.87 percent.
The improved profitability is attributed to increased revenue resulting from increased electricity sales. Additionally, the adoption of a more cost-reflective tariff review in April 2023 as well as the growth in unit sales by 129GWh.
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Kenya Power in April last year increased the base consumption charge to Sh12.22 per unit from Sh10 for lifeline consumers whose usage stands at no more than 30 units a month, even as it revised the lifeline threshold from 100 units previously.
