Crony capitalism - few leeches on kenya power sector

[RV Pundit]

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And these are long term contracts - it time the gov just negotiated for termination.

Kenyans can see for themselves how they are being ROBBED PROPERLY. How can a government be so cruel to its subjects? pic.twitter.com/pw6u70FOHH

— Ahmednasir Abdullahi SC (@ahmednasirlaw) September 27, 2021

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[Nowayhaha]

https://financialday.co.ke/678/updated-kenyans-who-earned-over-a-billion-in-gulf-energy-deal-revealed/

[Nowayhaha]

Interesting analysis from my Starehe  brother.

1. Kenya Power buys unit of power from Kengen at only 16.31 but pay independent power producers as high as 173 (appropriately name TRIUMPH)
2. Kengen supplies 72% of power but IPP boys eat 52% of money paid to power producers pic.twitter.com/MUZEgSjtUn

— Mohamed Wehliye, MBS (@WehliyeMohamed) September 27, 2021

[RV Pundit]

I checked that Triump - seem funded by Chinese and World Bank. They need to terminate some of these contracts....negotiate with owners..and then terminate. It's going to be difficult because these are international contracts - and without proof of fraud it's difficult.

It appears if we deal with Kengen - we can bring power down seriously.

I dont understand though why kengen cannot supply all the power?

[RV Pundit]

Well worth a Commission of Inquiry. The KANU era Samwel Gicheru ones should be terminated pronto.He has already been found to have recieved bribes with Chris Okemo.

An analysis of Kenya Power 2020 report reveals some shocking details. The company bought a unit of power from Kengen at an average of KShs 5.48. It sold a unit at an average of KShs 16.31.
You really wonder what is going on here until you see the cost at which it is buying a unit of power from some Independent Power Producers (IPPs). For example, it bought a unit of power at KShs 173 from Triumph Power, KShs 122 per unit from Gulf Power and KShs 55 per unit from Thika Power.
Other high earners are KShs 48 per unit paid to IberaAfrica, KShs 26 per unit to Tsavo Power and KShs 19 per unit to Rabai Power.
What is even more shocking is that Kengen supplied 72% of power but only received 48% of the money paid to power producers.
By now you must be thinking I am joking. If you think so just download a copy of Kenya Power Annual Report 2020.
Remember in this country we have an Auditor General and Parliament which should be finding out how a whole country is being held hostage by these IPPs. Who owns these companies?

[RV Pundit]

We need to talk or terminate those ending in 2030...a few are about to end....but more than half will stay until 2030.

[RV Pundit]

Maybe someone need to go to Judiciary - and get court order - that way they cannot run away.

https://www.theeastafrican.co.ke/tea/business/ipps-accuse-kenya-power-of-hiding-behind-covid-19-1447022

[GeeMail]

Who is Minister of Energy?

[Nowayhaha]

When those companies were being given Tenders it was Kiraitu Murungi and Prime Minister Raila Odinga

Who is Minister of Energy?

[GeeMail]

When was last time Raila PM? Kiraitu Murungi minister for Energy when?

[Kadudu]

Can you bring evidence and not just write anything you imagine?
Which contracts and when were they signed? Your statement is more political motivated than anything else. It does not help us anyway.

When those companies were being given Tenders it was Kiraitu Murungi and Prime Minister Raila Odinga

[RV Pundit]

It's true - Majority were signed by Kiraitu. Keter and Chirchir didnt sign any.

Those commissioned in 2014/2015 - signed their IPPS in 2012

For instance - Gulf
https://www.worldbank.org/en/news/press-release/2013/03/14/private-investors-raise-kenya-energy-generation-capacity-support-growth-equity

Can you bring evidence and not just write anything you imagine?
Which contracts and when were they signed? Your statement is more political motivated than anything else. It does not help us anyway.

[RV Pundit]

https://www.kenyatalk.com/index.php?threads/kenya-power-fires-23-senior-officials-in-mega-scandal-tip-of-the-iceberg.78267/
Gulf energy silent owners. Kibaki, Kiraitu, wanjigi na co.

Lake Turkana Wind project. Kibaki and prof. Ongeri

Thika IPP - Kiraitu & Wanjigi though this is the cheaper heavy fuel (slag) generator.

Tsavo - Aga Khan and Moi.

IBER Africa - Moi & Late Biwott.

[RV Pundit]

[gout]

Such information only makes you angry. If not helpless. Apathetic too. Only for lights to go out in your office and have to wait for hours.

Thika IPP is linked to Patrick Nyoike - then Energy PS.

[gout]

"Whether the Covid-19 pandemic and its effects qualify as a force majeure under the PPAs, the risk of a decrease in the national demand for electricity is a risk that Kenya Power, and not the IPPs, should take under the PPAs," says their letter dated May 15, 2020 and signed by Gulf Power, Iberafrica, Tsavo Power, Triumph Power, Rabai Power, and Thika Power

Maybe someone need to go to Judiciary - and get court order - that way they cannot run away.

https://www.theeastafrican.co.ke/tea/business/ipps-accuse-kenya-power-of-hiding-behind-covid-19-1447022

[Nowayhaha]

If I recall very well, Raila has interests in BAKRI energy.
Used to wonder how Raila and Uhuru used to fight politically where as business wise they used to leech KQ together . Uhuru through Leases and Raila by selling Jet Fuel to KQ.

When Railas son passed on and after handshake I realised these two apart from being business partners are real brothers.

[RV Pundit]

But does Ruto have the guts to go for these dynasties.

I think only a court order will save kenya.

I like the new judiciary.

[Nowayhaha]

Why they fear Ruto is not that he will go after them rather he will go after their businesses.
These people fear losing businesses than even their lives.
They know they can buy Judiciary , DPP ,EACC DCI ,Asset recovery all other agencies or institutions .
However They fear people who can raid their businesses. Hence all the unity of Tycoons. Ruto once he took Ministry of Agriculture aliwanyarosha hadi they the likes of Bulk Grain Handlers who had a monopoly in KPA had to run to Raila.

But does Ruto have the guts to go for these dynasties.

I think only a court order will save kenya.

I like the new judiciary.

[RV Pundit]

I hope they all aligned together - so it become easy to dismantled them.
They are doing a good job so far.
Mwananchi will do the rest in 8 months by sending them out of power like in 2002.
Hope we do not have another Narc revolution - where new thugs are coopted.

They should put Ndii as Chief Economist/Planner - and he will dismantled them in one year.

Why fear Ruto is not that he will go after them rather he will go after their businesses.
These people fear losing businesses than even their lives.
They know they can buy Judiciary , DPP ,EACC DCI ,Asset recovery all other agencies or institutions .
However They fear people who can raid their businesses. Hence all the unity of Tycoons. Ruto once he took Ministry of Agriculture aliwanyarosha hadi they the likes of Bulk Grain Handlers who had a monopoly in KPA had to run to Raila.