Higher Electricity and Fuel prices expected as New Bill by Ichungwah Seeks to Double EPRA Levy.
Kenyans stare at higher Electricity and fuel prices. This comes after the Kikuyu Constituency Member of parliament, Kimani Ichungwah proposed the Statute Law (Miscellaneous Amendments) Bill of 2023 in Parliament.
The Bill is aimed at doubling the Energy and Petroleum Regulatory Authority (EPRA) levy to a maximum of 1% percent from the current ceiling of 0.5%. Consumers are currently paying a levy of 0.25% on petroleum products and 0.08% per unit of electricity used.
On their part, EPRA decried that despite being a government agency, it does not receive any financial support from the public authorities.
The Energy regulator therefore argues that any decrease in the amount of electricity and fuel consumed with greatly cut down on its revenues as these two products account for over ninety-five percent of its total revenue collections per year.
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In Nairobi, petrol is now retailing at an all-time high of Ksh.217.36 up from Ksh. 177.3 a year ago. Kerosene was selling at Ksh. 145.94 in November 2022 but is now retailing at Ksh. 203.06 while diesel, mostly used for production even in thermal electricity plants, sold at 162 in November last year but is retailing at Ksh. 203.47.
Electricity charged also shot up with a review of electricity charges in April this year which saw some consumer’s tariffs rise by a staggering sixty-three percent (63%)
If parliament passes the new bill, it will mark a new rise for the cost of these two important products in the country, this will foresee a higher cost of Living without downplaying the current unbearable economic trend.