Kenya Power beats 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

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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