Director General of the Energy Petroleum and Regulatory Authority (EPRA) Daniel Kiptoo has outlined the government’s strategy to diversify investment in fuel and power to protect Kenyans against inflation.
Kiptoo highlighted intentions to take use of Kenya’s position as one of the world’s top producers of geothermal energy. The regulatory body claims that Kenya can reduce its dependency on foreign energy sources by tapping into the country’s wind and solar energy resources.
He defended President William Ruto’s proposal to halt the subsidy program, saying it was unsustainable. The director general of EPRA claims that the initiative was designed to aid Kenyans, particularly during the pandemic. Nonetheless, its pervasive use has impacted the region’s available fuel.
“Subsidies are not good and are unnecessary in certain extraordinary circumstances. The thinking of setting up a stabilisation fund under the Petroleum Development Levy was to allow the government to be able to build up a fund during the times when the oil prices were low,” he stated.