Kenya Power Company, the primary provider of electricity in Kenya, has recently announced that it is experiencing a shortage of power meters. This shortage is causing delays in replacing non-functional meters for customers, leading to frustration and inconvenience.
Landlords have been requesting that tenants conserve their power usage and pay for tokens to prevent an accumulation of bills while they wait for the issue to be resolved. This shortage of power meters is not only causing delays, but it is also leading to heavy losses for customers whose meters have been destroyed, both at their homes and at their businesses.
Despite this recent setback, the Kenya Power Company has reported a successful year, with a net profit of Sh3.50 billion for the year ending June 30. This represents a 134% growth from the previous year, and is due to a variety of factors.
A 6.9% increase in sales and an improvement in system efficiency, which reached 77.57%, both contributed to the company’s growth. In addition, the company was able to reduce its operating costs by 4.6%, leading to increased earnings.
The company’s tax expenses also decreased, from Sh6.71 billion to Sh1.62 billion, further contributing to the overall success of the year.
Despite the challenges presented by the current shortage of power meters, it is clear that the Kenya Power Company is a strong and successful company. It is likely that the issue will eventually be resolved, and customers will once again have access to functional power meters. In the meantime, it is important for both landlords and tenants to work together to conserve power and prevent the accumulation of bills.