Fatshimetrie recently made an exciting announcement for Kenyan consumers, revealing a significant 13.7% decrease in electricity costs starting this month of April. This long-awaited news comes as a relief to households in Kenya, offering respite in challenging economic times.
The reduction in electricity costs is attributed to two primary factors: the strengthening of the Kenyan shilling against the US dollar and a notable decline in fuel prices. This development is a welcome change for many households affected by energy cost fluctuations.
The decrease in electricity costs is primarily a result of a substantial drop in both the fuel cost burden and the adjustment for foreign exchange rate fluctuations, which are integral components of the total electricity bill. Specifically, between March and April 2024, these variable components experienced a considerable 37.3% reduction, significantly improving accessibility for consumers.
For instance, the fuel cost charge, which was 4.64 shillings in March 2024, has now decreased to 3.26 shillings in April 2024, reflecting a significant decline from its peak of 4.93 shillings in January 2024. Similarly, the exchange rate adjustment charge saw a notable decrease from 3.68 shillings in March 2024 to 1.96 shillings in April 2024, compared to a high of 6.85 shillings in January 2024.
Moreover, consumers in the Domestic Customer Rate Band 3 (DC3), consuming over 100 units per month, will witness their electricity bill drop from Sh4,127 in March 2024 to Sh3,728 in April 2024, reflecting a substantial 9.7% reduction.
Overall, this significant reduction in electricity costs is excellent news for Kenyan consumers, providing relief amidst economic challenges. It is poised to alleviate financial burdens on households and enhance electricity accessibility nationwide.
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