Speaking yesterday at a forum convened by National Chamber of Commerce and Industries, the head of state addressed the topic of small, micro, and midsized bussiness and how to boost them regarding the use of low enegy production.
In order to reduce electricity rates, the energy department will need to reevaluate the independent power producer, many of which are distributing power at cost up to 35 substantially higher than the lowest generator at KenGen.
Moreover, the head of state emphasized the need to reduce cost of production by instituting much more favorable tax regime and reducing energy and input expenses in the production company.
However, the govt’s attempts to lower electricity prices 30 percent under the administration of ex – president Uhuru were thwarted by an evaluation of pricey Electricity Suppliers between the government and independent power producer.
Local companies have voiced worries that the rising cost of electricity is driving up the price of products opposed to those in other African companies like Egypt and Ethiopia.