The latest data released by Energy and Petroleum Regulatory Authority (EPRA) on Friday showed that businesses and Households will dig deeper into their pockets to pay electricity bills.
This is due to the fuel cost charge (FCC) for February 2021 is Sh2.61 per kilowatt-hour, the highest charge rate in 14 months. In January 2021, the charge was Sh2.58.
“Notice is given that all prices for electrical energy specified in Part II of the said schedule will be liable to a fuel energy cost charge of plus 261 Kenya cents per kWh for all meter readings to be taken in February 2021,” EPRA stated last Friday.
The FCC has gradually increased as the global oil prices bounced back which increase the cost of diesel used to generate electricity.
As per the latest monthly review by EPRA, the price of diesel increased by Sh4.57 per litre.
A report by Reuters indicated that the oil prices hit the highest mark last Monday in just over a year, with Brent futures hit beyond $60 (Sh6,566.40) a barrel.
In the same breath, diesel and kerosene increased as well in January due to rising costs, which trickled down to poor households and transporters.