There is no cause for alarm over the recent profit warning issued by Kenya Power and Lighting Company for the year ended June 30.
This is according to Ministry of Energy Cabinet Secretary Charles Keter who said that issuing a profit warning is the norm for listed companies in the interest of shareholders further adding that the books will stabilize in the next fiscal year once kplc lowers its capital expenditure.
He made these remarks during the official launch of the new logo and corporate identity of the energy and petroleum regulatory authority where he pointed out that the profit warning which stipulates that profit margins might be down by 25 percent as compared to last year has sparked fear that the cost of power might go up adding to concerns over the already expensive cost.
He however disputed the claims that power in the country is costly. He went on to shine a light of hope by stating that the government is working on ensuring power becomes more affordable through building of more power generating plants.