The Ethiopian Electric Utility (EEU) and Kenya Power and Lighting Company (KPLC) have signed a new electricity supply agreement under which Ethiopia will supply electricity to Kenya at a rate of $0.15 per kilowatt-hour, plus a demand charge of $6.3 per kilowatt.
According to a statement posted on the EEU’s official social media page, the agreement was signed on Friday by Getu Geremew, Chief Executive Officer of Ethiopian Electric Utility, and Joseph Siror, Managing Director and Chief Executive Officer of Kenya Power and Lighting Company.
The statement stated that the new accord primarily aims to strengthen bilateral electricity trade, expand reliable power supply along the shared border and further promote East Africa’s energy connectivity.
The power agreement is also expected to boost shared regional economic growth through the provision of reliable power and better-quality services.
Speaking at the signing ceremony in Ethiopia’s capital, Addis Ababa, Geremew said that the agreement would help realise the shared dream of a more connected East Africa, demonstrating that energy is not only a source of wealth but also a bridge to sustainable development.
In his remarks, said that beyond strengthening electricity supply cooperation, the agreement will play a significant role in deepening peace and economic collaboration between Ethiopia and Kenya.
He noted that communities living along the Ethiopia–Kenya border will be the direct beneficiaries of the agreement.
According to EEU’s statement, the agreement is also expected to provide renewed momentum to the ongoing efforts to establish a Regional Power Pool that would facilitate an integrated electricity supply system across East Africa.
The statement added that by improving the reliability of electricity supply, the agreement is expected to promote regional economic growth and support the delivery of better services to the people of both countries.
MG/GIK/APA