Smart Meters Boost Kenya Power's Revenue by Sh347 Million

Posted on : Wednesday , 28th February 2024

According to Kenya Power, the company's annual sales have increased by Sh347 million as a result of the installation of 67,000 new smart meters. The company intends to install more of these meters in order to maximize collections from small enterprises.

 

The meters were installed by the company in an effort to save operating expenses and commercial costs.

 

The electricity provider revealed a 17.47 gigawatt-hour (GWHr) rise in revenues for the year, or Sh397 million.

 

With the goal of SMEs and the Meter Data Management Infrastructure, the organization has successfully installed 67,000 smart meters. Customers may easily follow and obtain a detailed picture of their electricity consumption trends with the help of smart meters, which provide real-time monitoring and remote reading, according to Kenya Power managing director Joseph Siror.

 

By December 2024, the company planned to have installed smart meters for all big electricity users, small and medium-sized businesses (SMEs), and customers who consumed more over 200 units on Advanced Metering Infrastructure (AMI).

 

The publicly traded utility company planned to install 67,000 smart meters in SME buildings and develop a central and five additional regional meter data control centres by the end of June 2022.

 

More than 80% of the company's total electricity sales come from large and medium-sized customers, whose revenue is protected by the AMI system, which will also help to improve the visibility and monitoring of the deployed smart meters.

 

The power distributor reported an 89 percent increase in financing costs to Sh24.15 billion from Sh12.76 billion in the year ending in June 2023, which resulted in a net loss of Sh3.19 billion as opposed to a profit of Sh3.26 billion the previous year.