The move by the Kenya Electricity Company (KP) to reduce the price of electricity to a large extent, is the end of the journey of many stagnations that have been with Kenyans for a long time.
On Monday, April 16, 2024, the company announced a 13 percent reduction in electricity prices.
According to the company, the cost of electricity will drop by Sh3.44 per meter.
KP attributed the situation to the strengthening of the value of the Shilling against the Dollar and other foreign currencies and the drop in oil prices.
Given that the government has also announced a drop in oil prices, Kenyans and businessmen who spoke to media, described the situation as satisfactory.
They said it is a trend that indicates that finally, the cost of living may begin to fall, and relieve Kenyans of the burden of rising prices of basic goods, as has been witnessed since 2022.
Despite the drop in prices, some Kenyans said the government should now focus on the price of cooking gas, as it is still high.
They say that the decrease in the price of fuel and electricity means that even the price of cooking gas should come down.
Economic experts also say that this is a good start that the government’s strategies to reduce the cost of living have finally begun to bear fruit.
In an interview with media, an expert in economic affairs, Mr Tony Watima, says that the first step for any government or country to reduce the cost of living among its citizens is to lower the price of fuel and electricity.
