Kenya Power now Bets on Goodwill for Dollar Electricity Bill Payments

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The industry regulator stated it would not let Kenya Power to bill consumers in dollars and euros, so the company abandoned the proposal.

The utility claims that even though it would continue to charge in Kenyan shillings, it will individually bargain with significant customers who want to pay their bills in dollars in order to replenish its foreign exchange reserves.

The State-owned company claims to have created bank accounts in both currencies and will begin negotiations with significant energy users in a month, paving the way for payments made in dollars.

The danger of Kenya Power failing to make on-time payments to Independent Power Producers for the power delivered has increased as a result of the currency crisis, which has also increased the debt portfolio of its dollar-denominated loans.

Business daily

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