In recent news, the cost of living might see a decrease soon. This comes shortly after a significant drop in fuel prices.

On Monday, April 15, 2024, the Kenya Power and Lighting Company (KPLC) announced a reduction in electricity prices by a substantial 13.7%.

This means that for customers in the Domestic Category using electricity not exceeding 30 units per month, their bill will decrease to Sh629 in April 2024 compared to Sh726 in March 2024 for the same usage.

According to the company’s statement, this reduction is attributed to the decrease in fuel prices and the strengthening of the Kenyan Shilling.

“The costs related to fuel and foreign exchange fluctuations, which are significant components of the electricity bill, have decreased by 37.3% between March 2024 and April 2024, as per the pricing guideline issued by the Energy and Petroleum Regulatory Authority (EPRA),” stated KPLC.

The fuel cost charge has decreased from Sh4.64 per liter in March 2024 to Sh3.26 in April 2024. This charge was Sh4.93 per liter in January 2024.

Similarly, the foreign exchange fluctuation charge has decreased from Sh3.68 in March 2024 to Sh1.96 in April 2024. This charge was at Sh6.85 per liter in January 2024.

“The reduction in these charges brings relief to our customers. Additionally, with the heavy rainfall across the country at this time, KPLC will generate more electricity through hydropower, reducing reliance on fuel-generated power plants,” said KPLC Managing Director Joseph Siror.

As per this reduction, customers using 60 units of electricity per month will pay Sh1,574 in April 2024 compared to Sh1,773 in March 2024. This represents an 11.2% reduction in electricity prices.

Similarly, customers using 120 units of electricity per month will pay Sh3,728 this month (April) compared to Sh4,127 last month, representing a 9.7% reduction.

This adjustment in electricity prices is expected to provide relief to consumers amid ongoing economic challenges.