Kenya Power is staring at deeper financial problems as the coronavirus pandemic hits the firm’s bottom line from different fronts - reducing its earnings while pushing up its operational costs. The firm has further been hit by high default rates among its consumers, who have been affected by Covid-19, and stopped paying their power bills. “The Covid-19 pandemic has significantly and adversely impacted on the business operations of the company with the impact recorded in the last quarter. He was responding to queries by the Senate Committee on Energy about the impact of the pandemic on the power firm. SEE ALSO: Thermal power producers on deathbedOther than the revenue loss, Keter said Kenya Power has hda to spend more to respond effectively to the pandemic.

Source: Standard Digital July 14, 2020 06:42 UTC