This archive report was first published on 19 September 2019.
On September 19, 2019, Kenya Power and Lighting Company Limited (KPLC) issued a statement warning of a significant decline in its net earnings for the financial year ended June 30, 2019.
The company projects a drop of more than 25% in its net earnings compared to the financial year ending June 30, 2018.
This decline is attributed to an increase in non-fuel costs, which is in line with KPLC's long-term strategy of promoting cheaper and cleaner renewable energy.
By focusing on renewable sources, KPLC aims to reduce its reliance on thermal generation, enhance sustainability, and improve affordability for consumers.
The company's strategy is expected to deliver cheaper power to consumers while increasing its long-term profitability prospects.
