Kenya Power #ticker:KPLC defaulted paying Sh6.4 billion it owes KenGen #ticker:KEGN for electricity delivered in the year ending June, prompting the intervention of top Energy ministry officials.
The electricity distributor failed to pay the bill within the required 40-day credit window in line with their contract, exposing KenGen to credit risk, according to financial statements for the year ending June 2017.
