Kenya Power profit down on fuel costs

Low water levels at Sondu Miriu hydroelectric station in Nyakach, Kisumu County. Drought has led to low volumes in most power generation dams. [Collins Oduor, Standard]

Kenya Power’s fuel costs have nearly doubled, cutting the company’s profits by a third to Sh2.9 billion in six months ended December 2017.

The firm posted a profit of Sh4.2 billion in a similar period in 2016 but despite revenue growing by 15 per cent to Sh67 billion, its earnings were weighed down by high operating costs.