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BY JOAN WANJIKU,NAIROBI,11TH DEC,2020-Kenyans are set for higher electricity bills at the end of the Christmas festivities courtesy of weakened shilling.
According to the just published schedule of tariffs for the month of December by the Energy and Petroleum Regulatory Authority (EPRA), all meter readings in December with be liable to a foreign exchange (FX) adjustment of 69.77 cents per unit from 55 cents last month.
This will be the second highest FX adjustment on electricity bills in the 2020 calendar year after October when the adjustment stood at a Ksh.1.07 high per unit of power consumption.
The foreign exchange fluctuation adjustment (FERFA) effected on a monthly basis by the energy sector regulator is related to transitional costs arising from power purchases made in foreign currency.
The ongoing depreciation of the local unit has instilled pain on Kenyans as the pricing of import depended goods and services pick up.
In contrast, the shilling had opened the year on a strong note prior to the advent of the COVID-19 pandemic with the resilience carrying gains for Kenyans in terms of costs.