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Yesterday, Kenya Power reported a staggering KSh 30 billion in net profit for the financial year ended 30th June 2024 up from a KSh 3 billion net loss last year. The main reason behind this performance was the massive increase in power tariffs implemented in April last year.  The year ended 30th June 2024 was the first year when the full impact of the tariff increment was reflected in Kenya Power's books. This resulted in sales rising by a massive KSh 40 billion.  The company mischievously failed to provide data on growth in units of power sold. The truth is that sales revenues rose due to the tariff review as opposed to growth in power consumption. They also failed to provide data on system losses which means that the profits weren't due to increased efficiency but a rise in power prices.    The second reason for the huge profits was a KSh 25 billion decline in finance costs following the appreciation of the shilling earlier in the year. Kenya Power has...

Blaming someone when a person they elected fails to deliver amounts to victim shaming and blaming. This pettiness serves no purpose other than to stall accountability and glorify political conmanship.  When a person vies for an election and makes certain promises, it is their responsibility to deliver. Only a prophet would know for sure whether one would deliver or not. When they fail to deliver they must be criticised by those who voted for them and those who didn't.  How many people in this country were once considered unimpeachable champions of good governance and today they are dining with killers and oppressors of the people? These childish arguments are often made with respect to the presidency. But how many of those who voted are happy with their MP, Governor or even Senator? Should they be blamed for those failures? Should they be gagged from calling out such non-performance?  Many uninformed people will talk about how those who voted for Ruto ought to...

The excuse that we are using PPPs in Adani deals because we don't want to burden Kenyans with debt is highly misleading. Whichever financing mechanism is used for any public project, it is Kenyans who will eventually pay for it.  The worst thing about PPPs is their long-term nature committing generations to years of exploitation. The absurdity of Adani's PPPs is that we are using a broker to do what KETRACO has always done. What is the point of borrowing a loan through Adani and yet the loan will be repaid by Kenyans through power bills? Why can't KETRACO take the loan and receive the payments from Kenya Power over a much shorter period?  Those of you who followed my expose of IPPs will remember that IPPs are paid many multiples of what KenGen is paid for the same source of power. If KenGen were paid at the same rate as IPPs, it would construct all power projects in the country using its balance sheet.  In the year ended June 2023, KETRACO earned ...

According to a document by Kenya Power named Grid Development and Maintenance Plan 2016-17 to 2020-21 these were the costs for some of the transmission lines Adani is supposed to do.  205km 400kV double circuit line, with substation in Longonot, Thika, Kagundo and Konza - USD 102.35 million  70km 132kV double circuit line with substation in Nyandarua and extension works in Menengai and Rumuruti - USD 20.59 million  This totals to USD 123 million.  The only Adani line not in this document is the 96km, 220kV Ronga-Keringet-Chemosit. But in the document the Ngong - Magadi 84km, 132KV double circuit transmission line, with substation at Magadi was to cost USD 22.35 million. The cost per km was USD 266,071 and therefore a 96 km line would cost USD 26 million.  Therefore the total cost for the three Adani lines was budgeted at USD 149 million. Remember that the Kenya Power document runs to 2021. Yet Adani is now charging USD 737 million for the three lines...