News

Kenya Power Profits Drop By 91pc From Sh3.2B To Sh262M

Published

4 years ago

September 7, 2020

In what is a real shocker, the electricity provider has plunged 91 per cent for the year ended June 30, 2019.

According to their financial report, KPLC’s profit after tax dropped to Sh262 million from Sh3.2 billion in the same period the previous year.

The company is blaming high production costs, power purchasing costs mostly from the private power providers who yank the bigger portion of pay.

KPLC has also been restructuring including paying off employees. Cost of power is expected to go up in the coming future as more power sources will be incorporated into the grid.

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