Revealing a hidden saga behind the soaring electricity costs, the cloak has been lifted off the identities of directors and beneficiaries of companies thought to be making billions by orchestrating the country’s high-priced power.

Prominently featuring in the list of the beneficiaries of the hiked power prices is EALA MP Suleiman Shahbal.

Shahbal’s company is among the Independent Power Producers who have been supplying Kenya Power with electricity at exorbitant prices hence the high electricity costs.

Despite the National Assembly energy committee’s push for Independent Power Producers (IPPs) to slash their prices, the IPPs have adamantly refused to comply.

IPPs Vending Power At High Rates

The astonishing fact emerges that these IPPs are vending a kilowatt unit of power to Kenya Power at an astounding five times the rate KenGen offers.

BRS Director General, Kenneth Gathuma, exposed the cunning utilization of a legal loophole, allowing companies registered post-2017 to maintain their shareholders’ obscurity.

This revelation comes over a year after the government embarked on negotiations with IPPs to revise the power purchase agreements, aimed at reducing electricity expenses. However, progress has been elusive, with IPPs now demanding tax exemptions on HF4 oil in return for price reviews.

The energy committee’s pursuit of transparency unveiled prominent local figures like Suleiman Shahbal and Francis Koome Njogu as beneficiaries, alongside international names partnering in the lucrative power sector.

The committee’s new call for Attorney General Justin Muturi to seek foreign assistance in unmasking these faceless beneficiaries from various countries marks another twist in this captivating tale of power and secrecy.