Kenya Power will leverage on new business frontiers to sustain profitability, grow shareholders value and safeguard the Company’s position as the leading energy utility in the region.
The Company intends to actively seize opportunities for sales growth in the areas of electric mobility, e-cooking, energy storage and decarbonisation as guided by its five-year Strategic Plan for the period 2023-2028.
“The last few years have seen us position the business on a firm growth trajectory through our focus on sales growth, improving revenue collection, reducing system losses, prudent cost management and enhanced customer experience. We will sustain our focus on these areas as well as new emerging frontiers in order to propel the business to its next phase of its growth,” said Kenya Power’s Ag. Managing Director Eng. Geoffrey Muli.
During the current financial year, Kenya Power has set aside KShs.40 million to purchase 50 electric motorbikes, three electric vehicles and construction of three electric vehicle charging stations for its own use, data collection as well as for demonstration purposes.
“We are working with the various stakeholders within the e-mobility space to develop a framework for the adoption of electric vehicles in the country. Being the country’s electricity retailer, it is very important that we are at the centre of e-mobility conversations to enable us prepare adequately to support the nascent industry, which has immense potential to safeguard Kenya’s position as the economic hub of the region,” said Eng. Muli.
Additionally, Kenya Power has established an E-mobility Liaison Office which is mandated to develop a strategy to guide the Company’s participation in e-mobility. The office also facilitates the company’s engagement with other stakeholders in e-mobility.
To promote clean cooking using electricity, Kenya Power is working with various organisations that are involved in the e-cooking value chain, including manufacturers of modern electricity cooking gadgets, to carry out customer education on cooking with electricity. The Company carries out sensitisation sessions at its E-cooking Demonstration Centre which is located at Electricity House in Nairobi.
During the year ended 30th June 2022, Kenya Power recorded a 6.6 percent growth in sales to 9,813 Gigawatt hours, mainly supported by an expanding customer base, improved system efficiency and an intensive countrywide loss reduction campaign geared towards tackling theft of electricity. This resulted into a Ksh3.5 billion profit after tax.