Kenya Power’s deployment of 67,000 smart meters has boosted annual sales by Sh347 million, targeting small businesses for enhanced revenue collection.
The meters offer real-time monitoring and remote reading, aiding consumers in tracking electricity usage patterns effortlessly. Despite this positive development, the power distributor reported a net loss of Sh3.19 billion, largely attributed to a significant increase in finance costs and forex losses totaling Sh23 billion.
To mitigate currency risks, Kenya Power seeks agency services while pushing for regulatory adjustments to avoid similar losses in the future.
This illustrates the dual challenges and advancements in Kenya Power’s operations, highlighting the importance of innovative solutions like smart meters alongside strategic financial management to navigate complex market dynamics and ensure sustainable growth.
