EPRA discloses plans to cushion Kenyans on high prices of fuel and electricity.
Energy and petroleum regulatory authority, EPRA discloses plans to cushion kenyans on inflation pressure.
speaking after the fuel hike, EPRA director general, Daniel Kiptoo stated the government has plans of diversifying investments on fuel and electricity to other more renewable energy sources.
Kiptoo states that Kenya’s wind and solar energy potential can be used instead of over reliance on the imported energy.
EPRA director general further supported president Ruto ‘s initiative of doing away with subsidy programs stating that they unsustainable.
The director further revealed that the subsidy programs were meant to cushions Kenyans especiallt during tough times like Corona period, but they still were used post covid, costing the country’s fuel supply.
He said,”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.”
President Ruto had stated that , the subsidy program had cost Kenyan taxpayers, 144 million including 60 billion in the last four months alone.
Kiptoo revealed that Ruto’s government is working with Kenya electricity generating company(KEnGen) to empower and build expertise in power generation
EPRA director general further stated that the government is trying to find a long term solution. This will include utilize the local oil productions such as the Turkana mines and build infrastructure to arrest wind and solar energy.
Kiptoo said,”The biggest challenge is that power projects takes 5-7 years to develop. We are negotiating to lower the generation cost which will then bring efficiency in transmission and distribution. The customers will then have a long term sustainable benefit over the reduction of the cost.”
Also read New Fuel rates as EPRA hikes fuel prices
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