The Kenya Power and Lighting Company (KPLC) has posted a Kes 3.2 billion net loss for the full year ending June 30, 2023.

KPLC attributed the performance to currency fluctuation and the high power purchase cost.

This comes when the Kenyan shilling has continued to depreciate against the US dollar and Euro, the currencies in which most power purchase agreements are made.

However, finance costs increased by 89 percent to Kes .24.2 billion during the period.

To mitigate the impact of forex exposure on operational performance, Kenya Power says it is working on restructuring its loan book to minimize the loan obligation that is dollar-denominated.

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Further, the utility company says it will continue to tap into new business growth areas to drive demand for electricity for sustainable growth.