Kenya to stop buying power in dollars, opts to use local currency
Kenya is set to drop the use of the American dollar to pay for power in a tariff shift that will ease the cost of power.
The Energy Regulatory Commission (ERC) is expected on Tuesday 5th June 2018 to announce the findings of a study on the availability and viability of local financing for infrastructure projects within the energy sector.
The study which was commissioned in July 2017 is part of government efforts to bring down the cost of power.
The utilization of local capital could significantly reduce the development cost of energy projects and mitigate against the forex component applied on power purchase tariffs which are passed on to consumers.
The event will be presided over by Energy PS Joseph Njoroge, ERC Director General Pavel Oimeke and Guarantco’s Executive Director Samuel Chasia.
