(Last Updated On: November 2, 2015)
Kenya Power Company workers install a new transformer along the stadium road in Mombasa in this photo taken on 14th July 2015.
Photo by kevin odit.
Kenya’s sole electricity distributing company Kenya Power posted a 6% rise in net profit to stand at Ksh7.4 billion thanks to a rise in electricity sales, economic growth and a tariff review in December 2013.
Revenue was up 1.29% to Ksh106.764bn. This is broken down to three areas. Non fuel revenue was up 24.3% to ksh77.8 billion, fuel cost recovery revenue was down 33.7% to Ksh25.5bn while foreign exchange loss recovered stood at ksh3.3bn. Other revenue was up 30.4% to stand at Ksh6.4bn. Electricity sales were up 5% from 6790 million units to 7130 million units.
Transmission and distribution costs were up 16.5% to stand at Ksh24.2bn. Additional capacity led to an increase in units bought from 8254GWh to 8629GWh which is a 4.5% rise. EPS stood at 3.81 while dividend remained unchanged at Ksh0.5.
The four priority areas Kenya Power will focus on will be systems expansion, network upgrade, customer connectivity and loss reduction.