I’ll revamp Kenya Power balance sheet, says Chirchir
By Anthony.Mwangi, October 19, 2022Energy and Mining nominee Davis Chirchir said there was an immediate need to restructure Kenya Power’s balance sheet.
Responding to a question by Speaker Moses Wetang’ula during the vetting process on why the power distribution firm is constantly in financial difficulties despite being a monopoly, he said being the sole power distributor was to blame for the underperformance. “This is a question we have to look at. When you are a monopoly, you tend to be complacent. We need to restructure Kenya Power’s balance sheet,” Chirchir said.
Asked why the cost of electricity is extremely high, Chirchir said that there was no reason why anybody should pay for what they have not used and promised to address the issue if approved.
Unfinished projects
On persistent power blackouts, Chirchir blamed it on weak networks adding that the sector requires an in-depth review of its systems. He said the cost of energy will have to come down if Kenya is to attract more foreign investors.
On petroleum challenges, Chirchir said the country need to develop own resource and accelerate the development of the Lokichar basin, in Turkana county. “We will address the need for strategic (petroleum) reserves for our country,” Chirchir told the committee.
He said his first assignment will be to check on the unfinished work in the energy sector raging from power lines and development of resources in the sector adding that if approved, he will improve renewable energy supply to the national grid which is a key component in the country’s development.
Chirchir had a hard time defending himself over corruption claims and denied playing any role in the infamous ‘Chicken gate’ scandal that rocked the now defunct Interim Independent Electoral Commission 12 years ago.