All unconcluded negotiations of power purchase agreements (PPA) will not proceed as the government is taking its first stab at reducing the cost of electricity.
This is part of recommendations by a Presidential appointed task-force on the review of the power purchase agreements.
The agreement talks have been ongoing between private investors in the energy sector and the State utility firm Kenya Power.
This comes even as Kenya Power and Lighting Company has been declared a special government project.
A multi-agency team comprising the Directorate of Criminal Investigations, Financial Reporting Center, Assets Recovery Authority and other investigative agencies will be assembled to investigate alarming system losses.
In addition to this, the team will also audit procurement practices, insider trading, conflict of interest and suspect transactions involving Kenya Power staff and others.
This announcement came during a meeting where Interior CS Fred Matiang’i chaired a meting with the Kenya Power management and staff before making the announcement.