Kenya Power has announced a gross profit of $29 million (KShs.3.1 billion) for the year ended 30th June 2018.

According to the utility, during the trading period, electricity sales increased by 2.3% from 8,272 million units the previous year to 8,459 million units due to an expanded customer base. Consequently, revenue from the sale of electricity grew from KShs.91.95 billion to KShs.95.463 billion.

Power purchase costs excluding fuel and foreign exchange costs increased by KShs.2.6 billion to KShs.52.8 billion during the period under review mainly attributed to a 13.5% increase in units purchased from geothermal plants from 4,451 GWh to 5,053 GWh.

Source: ESI Africa