Kenya Power Smart Meters: Leading telecommunications firm Safaricom is set to make Sh. 53.5 billion for installing smart electricity meters. The new smart meters will be installed for Kenya Power to large power consumers. The meters are aimed at curbing power theft and leakages, as well as fixing Kenya Power’s transmission network weaknesses. The new smart meters will be connected to homes and businesses that consume more than 200 kilowatt hour (kWh) monthly.
According to a report that appeared in the Business Daily, Safaricom will install a Sh. 31 billion intelligent system that will connect 330,300 electricity meters to a central location and track electricity use, power outages and load on transformers as well as read meters remotely.
“Safaricom is set to earn 75 percent of the additional sales or Sh. 53 billion, with Kenya Power taking the remaining Sh. 17.9 billion, according to the utility firm’s board papers. This means the telco will recover its investments in four years and transfer the smart reading network to Kenya Power after eight years,” the report in the daily business newspaper said.
In a preliminary report, Martin Mutuku, the Kenya Power general manager for business strategy affirmed that Safaricom will have recouped its investment in four years.
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“Safaricom will have recouped its full cost in year four hence the need for a further discussion on the revenue uplift sharing proportion. Basis to support the 75 to 25 percent sharing proportions, KPLC should negotiate for a better sharing proposal,” said Mutuku.