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Uhuru tariff cut dims Kenya Power revenue by Sh4.8bn

Benard Ngugi, new Kenya Power CEO. PHOTO | DIANA NGILA | NMG

By  Patrick Alushula

Business Reporter

Nation Media Group

Electricity price cuts ordered by President Uhuru Kenyatta two years ago cost Kenya Power #ticker:KPLC Sh4.8 billion in revenue for the financial year ended June 2019, new disclosures by the firm show.

Kenya Power chairman Mahboub Mohamed said the revenue drop from the unplanned tariff review forced the company to take up short-term loans to cover for the resultant financial hole.

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Note: The results are not exact but very close to the actual.

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