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    1.0.32

    KenGen Signals Drop in Power Prices

    Fred
    By Fred Obura
    - February 05, 2024
    - February 05, 2024
    Kenya Business news

    Kenya Electricity Generating Company PLC (KenGen), has increased hydropower generation after the country’s main dams in the Seven Forks Cascade hit one of the highest water levels in the recent past.

    • •The performance on the hydropower has largely been driven by Masinga Dam, which is Kenya’s largest, maintaining near maximum water levels of 1,056 meters above sea level (mASL), over the last three days.
    • •The NSE-listed company said its operational boost at Seven Forks has been remarkable over the last 24 hours, with the power stations recording a peak output of more than 471MW which will go a long way in stabilizing grid-scale electricity costs.
    • •Amid the rising water levels, KenGen moved to reassure Kenyans especially those living downstream of the five dams saying they do not expect to have water spilling downriver any time soon.

    “We are receiving very good inflows from the Mount Kenya and Aberdares catchment areas which has led to high water levels at our dams,” said KenGen Managing Director and CEO, Peter Njenga.

    January inflation figures by the Kenya National Bureau of Statistics (KNBS) indicate that the Electricity, Housing, Water, Gas and Other Fuels’ Index increased by 1.6 per cent between December 2023 and January 2024 mainly due increase in prices of 200 kWh and 50 kWh of electricity by 11.4 per cent and 13.7 per cent, respectively mainly due to increase in price of foreign exchange rate fluctuation adjustment per kWh by 103.1 per cent.

    “Despite getting close to the maximum water levels at the Masinga Dam which is our biggest, we have not reached spilling level thanks to a robust water management program being implemented by our engineers. We however remain vigilant and will issue an alert should we envision a potential water overflow from the large dams,” said Njenga.

    KenGen said it had noted reduced inflows over the last one week giving further assurance that Masinga Dam will not reach spilling level any time soon. KenGen remains committed to generating competitively priced and reliable electricity to drive Kenya’s next phase of economic growth.

    KenGen Declares KES 1.32 Billion Dividend Payout to Shareholders – Kenyan Wallstreet

    The Kenyan Wall Street

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