Kenya Power & Lighting Company Limited (Kenya Power or KPLC), listed on the Nairobi Securities Exchange under the share code KPLC, is an electricity company with geothermal, hydro and thermal power generation as well as power generated from solar and wind sources interests.
Kenya Power’s electricity sales improved by 2.3% to 8,459 million units against 8,727 million from the equivalent period a year earlier. This contributed to a 3.8% sales revenue to Shs. 95,463 million up from Shs. 91,952 million recorded the previous year. Finance income surged by 117.39% to Shs. 100 million for the year under review. The company priorities concentrating on arrangement of value control supply by reinforcing the power circuit and streamlining inward procedures to enhance the client experience.
The following is an excerpt from the CEO’s statement:
During the year under review, the net profit before tax decreased by 59.7% to Shs.3,089 million from Shs.7,656million (restated) in the previous year. This was mainly attributable to increased transmission and distribution costs as a result of maintenance activities on the expanded network.
Electricity sales grew by 2.3% from 8,272 million units the previous year, to 8,459 million units in the period under review due to an expanded customer base. This, combined with an improved average yield, led to 3.8% an increase in sales revenue, from Shs. 91,952 million the previous year to Shs. 95.463 million.
Power purchase costs, excluding fuel and foreign exchange costs, increased by Shs. 2,593 million from Shs. 50,202 million the previous year, to Shs. 52,795 million. This is attributable to an increase in units purchased from geothermal sources in the year by 602GWh or 13.5% from 4,451 GWh the previous year to 5,053 GWh.
The fuel cost decreased by Shs.485 million (or 2.0%) from Shs. 24,076 million the previous year to Shs. 23,591 million due to improved energy mix following less utilization of expensive thermal plants during the year.