Kenya Power has increased its profit after tax to Sh24.99 billion for the financial year ended June 30, 2026, helped by stronger electricity sales, better network efficiency and a sharp reduction in finance costs.
The profit was 2.13% higher than the Sh24.47 billion recorded in the previous financial year as electricity sales climbed 12.05% to 12,777 GWh. Electricity revenue also rose by Sh18.96 billion to Sh238.24 billion during the year.
The improved performance came as the utility added 411,710 new customers and recorded higher electricity consumption across its customer categories. The growth also coincided with continued investment in the electricity network as demand for power increased.
Kenya Power said distribution and transmission efficiency improved from 78.79% to 81.42%, allowing the company to sell more of the electricity supplied through its network while supporting revenue collection.
“This year’s business performance reflects the Company’s sustained implementation of strategic initiatives focused on operational excellence, customer centricity, financial sustainability and human capital development. These initiatives supported growth in electricity demand and improvements in revenue, system efficiency, profitability and the Company’s overall financial position,” said Managing Director and Chief Executive Officer Joseph Siror.
The latest results follow an improvement recorded in the 2024/25 financial year, when electricity sales increased by 887 GWh to 11,403 GWh and Kenya Power reported revenue of Sh219.29 billion.
The company has also continued efforts to reduce electricity system losses and improve reliability. In the previous financial year, total system losses declined from 23.16% to 21.21%, while transmission availability stood at 99.9%.
A major boost to the latest profit came from lower finance costs, which dropped by Sh1.64 billion, or 34.68%, to Sh3.08 billion. Kenya Power attributed the decline mainly to reduced interest expenses following a fall in its outstanding loan balances.
The lower cost of borrowing helped improve the company's profitability while also strengthening its balance sheet, providing room for continued spending on the network, customer access and other areas.
“The improved debt profile enhanced profitability and strengthened the balance sheet. This enabled continued investment in the network, customer access, digital capabilities and workforce rejuvenation, while enhancing shareholder value,” Siror said.
Kenya Power's total assets grew by Sh32.45 billion during the year to Sh421.49 billion. The company spent Sh28 billion on capital projects, with the money directed towards expanding, reinforcing and modernising its electricity network.
The utility also recorded a major turnaround in working capital, moving from a negative Sh19.21 billion in June 2025 to a positive Sh1.90 billion by June 2026. The shift represented an improvement of Sh21.11 billion over the period.
Kenya Power said the stronger financial position would allow it to step up investment in grid automation, smart metering, revenue protection, digital services for customers and infrastructure.
“Going forward, the Company will focus on translating its improved financial position into better service delivery and sustained shareholder value. Key priorities include grid automation, smart metering, revenue protection, customer-facing digitalisation, workforce renewal and infrastructure investment to support rising electricity demand,” Siror maintained.
The results come amid continued growth in Kenya's electricity market. Ministry of Energy data shows that the country currently has 10.43 million electricity connections, installed generation capacity of 3,309MW and peak demand of 2,514MW.
Government energy data further shows that electricity connections increased from 9.21 million in 2022/23 to 9.66 million in 2023/24. During the same period, electricity sales rose from 10,233 GWh to 10,516 GWh.
Kenya Power said its latest financial performance would help it respond to rising electricity demand while improving the reliability of supply and expanding customer access.
The company's board has recommended a final dividend of Sh1.20 per ordinary share. This would bring the total dividend for the financial year to Sh1.50 per share.