Electricity prices in Kenya have risen for the second month in a row due to high oil prices and a weak shilling, the Kenyan Wall Street newspaper, citing the Energy and Petroleum Regulatory Authority.

The fuel cost charge (FCC) increased to 7.09 Shillings per unit of electricity consumed in October 2022 from KES 6.79 in September 2022, while the foreign exchange fluctuation adjustment will increase to 1.48 Shillings per unit from 1.37 Shillings.

FCC has remained constant since January 2022 at 4.63 Shillings per unit, while forex adjustment was 73 cents over the eight months. The two steady components supported the 15% reduction in electricity prices early this year following former President Uhuru Kenyatta’s order.

In September, the power regulator increased electricity charges by 15.7%, reversing the former president’s directive, which affected consumer prices for food and manufactured goods.

The newspaper said that crude oil cost rose to an average of 14,103 Shillings in August 2022 from 8,140 Shillings in January this year.

(Editing by Seban Scaria seban.scaria@lseg.com)