Kenya Power beats stock giant Safaricom to move over 7 million shares

Kenya Power beat stock giant Safaricom to move over 7 million shares

Kenya Power and Lighting Company (KPLC) defied all odds to beat stock leader, Safaricom at the Nairobi Securities Exchange (NSE) at the close of trading Tuesday.

The power utility moved 7.1 million shares, compared to 0.4 million shares moved at the close of trading on the bourse Monday.

It signals a renewed trust among KPLC investors, who are hoping for better days ahead, perhaps on the premise of a record 102.34 megawatts the country added to its installed capacity for electricity generation in the 2021/22 financial year boosting the efforts to provide stable power at a time peak demand hit a fresh high.

Its price per share, however, tumbled to Ksh.1.5, a 1.3 percent depreciation.

According to Energy and Petroleum Regulatory Authority (EPRA), installed capacity stood at 3,074.34 megawatts as of last June, up from 2,972 megawatts the previous year.

Installed capacity refers to the maximum amount of electricity that a power plant can generate for onward supply to the national grid.

“The installed capacity increased by 102.34 megawatts from 2,972 megawatts as of June 2021 to 3,074 megawatts as of June 2022. Geothermal and solar generation increased by 86 megawatts and 120 megawatts, respectively,” said EPRA in the report.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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