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Government wants energy deals pegged on shilling

[Photo: Courtesy]

Kenya wants electricity producers to sign power purchase agreements (PPAs) in local currency in an attempt to shield electricity consumers from sudden spikes in prices whenever the shilling depreciates against major global currencies.

The Ministry of Energy also wants industry players to source some of their project financing locally in the long-term plan that is expected to bring down the cost of power by reducing the foreign exchange component in the bill.

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