Read Larry Connors' blog – Short Term Trading Strategies
The truth of the matter is that we have not devoted adequate resources towards maintenance and distribution of transmission infrastructure.
A country which is urbanising at the rate we are -- and nursing big ideas such as to erect complex infrastructure, including high-speed electric trains -- cannot just afford to have massive power blackouts lasting for as long as four hours.
We badly need to speed up the pace of reforms in the electricity sector.
The decision early this year to separate the distribution function from transmission and create a completely new parastatal to be in charge of transmission was a good starting point.
In future, it will be easier to apportion culpability to either the distribution company or to the entity responsible for transmission.
But the priority number one remains how to bring consumer prices down. Electricity consumers in Kenya have been forced to bear high prices by a pricing formula which allows the so-called independent power producers to be paid even when their generators are not in use.
Today, the electricity bill includes far too many charges, and the consumer is left totally exposed to the frequent but unpredictable changes in international crude oil prices. The long term plan must be to replace these generators with green energy.
Right now, several private sector players have proposed to put up huge wind power projects. There is also a proposal before government for a massive solar power plant.
The beauty about these green energy projects is that the tariffs are proving to be even more competitive than hydro electric power. We need incentives to attract producers of green energy.
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