Industry Analysis

The Bi-Annual Energy and Petroleum Statistics Report for the financial year 2023/2024 offers a comprehensive analysis of Kenya’s energy sector performance for the period July to December 2023. Prepared by EPRA, the report presents key statistics on electricity generation, petroleum product demand, renewable energy capacity, and consumption patterns across the country. It highlights that electricity generation reached 13,684.63 GWh with renewables accounting for nearly 80% of installed capacity, reflecting Kenya’s strong commitment to clean energy. Peak electricity demand rose to 2,177.13 MW, underscoring growing industrial and residential consumption. The report notes significant developments such as the commissioning of the Kenya-Ethiopia 200 MW HVDC interconnection, enhancing regional power trade, and the operationalization of the Sossian geothermal plant adding 35 MW to the grid. Petroleum demand showed mixed trends with LPG consumption increasing by 13.38%, driven by clean cooking initiatives, while overall petroleum product demand decreased slightly. The report also covers regulatory milestones including the gazettement of the Energy (Net Metering) Regulations 2024 and Kenya’s Green Hydrogen Guidelines, signaling progress towards sustainable energy transition. Additionally, the report discusses macroeconomic factors such as Kenya’s GDP growth of 5.6%, currency fluctuations, and inflation, which influence the energy sector dynamics. By providing critical data on supply, demand, pricing, and emerging technologies like e-mobility and green hydrogen, the report serves as an essential tool for policymakers, investors, and stakeholders to monitor sector progress, identify challenges, and guide future energy planning and regulation.