Rain boosts KEG share price

• 12 years ago (2012-01-04)
• Junior Isles

Africa 303 Asia 851 Australasia 51 Biomass 8 Climate change 20 Coal 278 Cogeneration 1 Concentrating solar 5 Cyber security 8 Decarbonisation 1 Decentralised energy 5 Demand side management 2 Demand side response 2 Digitalisation 10 Distributed energy 10 Distribution 109 Electric vehicles EVs 4 Emissions 60 Energy management 1 Equipment 2 Europe 1061 Gas 373 Gas engine plant 60 Gas fuel 1 Horizon 2 Hydroelectric 17 Hydrogen 53 Hydropower 112 Latin America 77 Maintenance 3 Marine 1 Metering 2 microgrid 5 Middle East 312 North America 999 Nuclear 640 Offshore wind 119 Oil 17 Operations 4 Policy 8 Regulations 3 Renewables 753 smart grid 2 Solar 246 Storage 37 substation 8 Tepco 2 Tidal 2 Toshiba 4 Transmission 181 US Senate Washington 4 Wind 239

---

Kenya Electricity Generating (KEG) Co., Kenya’s primary power producer, reaped the benefits of heavy rains last month as speculators  converged and boost its share price. High rainfall is predicted to help the company’s hydroelectric projects increase their electricity output.

KEG’s shares jumped 4.1 per cent to their highest figure in a month at 8.80 shillings, as of the afternoon close in the capital, Nairobi.

“There is improved stability in the generation sector because there has been enough rain that the dams are full,” Caleb Mutai, an analyst at Nairobi-based Tsavo Securities Ltd., explained in an interview.

Heavy rains during December covered most parts of Kenya, including areas where the main hydro-power generation dams are located, according to Kenyan Meteorological Department. KEG’s hydro-electric plants provide about 65 per cent of Kenya’s power generation.