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KPLC vs KENGEN Accounts: Sh26B Missing
chiaroscuro
#1 Posted : Monday, April 09, 2018 11:24:45 AM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Is this for real?
Sh26bn missing in air?

https://www.nation.co.ke...376142-ilesq3/index.html
Fyatu
#2 Posted : Monday, April 09, 2018 2:58:52 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
In Kenya, no one goes to jail on corruption charges.However, Steal your neighbors chicken or insult and heckle Anne waiguru and you will find yourself cooling porriadge in industrial area.
Dumb money becomes dumb only when it listens to smart money
mulla
#3 Posted : Monday, April 09, 2018 4:19:41 PM
Rank: Member

Joined: 6/15/2013
Posts: 301
Fyatu wrote:
In Kenya, no one goes to jail on corruption charges.However, Steal your neighbors chicken or insult and heckle Anne waiguru and you will find yourself cooling porriadge in industrial area.


its a shame.....we need just a few high profile names found guilty and taken to jail. Right now these glamor thieves dont fear nor are they ashamed of economic crimes because no punishment ever comes to haunt them. I was disappointed when Okemo and Gichuru were not given extradition orders......the judiciary to a great extent has let Kenya down.
Ebenyo
#4 Posted : Monday, April 09, 2018 4:20:51 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Fyatu wrote:
In Kenya, no one goes to jail on corruption charges.However, Steal your neighbors chicken or insult and heckle Anne waiguru and you will find yourself cooling porriadge in industrial area.


@fyatu,dont believe this writer.Anatafuta mkate yake.He writes weekly in sunday nation.So ni lazima atumie kila mbinu ndio apate kitu ya kuandika alafu apate pesa.
Towards the goal of financial freedom
Njunge
#5 Posted : Monday, April 09, 2018 4:27:25 PM
Rank: Elder

Joined: 2/7/2007
Posts: 921
Ebenyo wrote:
Fyatu wrote:
In Kenya, no one goes to jail on corruption charges.However, Steal your neighbors chicken or insult and heckle Anne waiguru and you will find yourself cooling porriadge in industrial area.


@fyatu,dont believe this writer.Anatafuta mkate yake.He writes weekly in sunday nation.So ni lazima atumie kila mbinu ndio apate kitu ya kuandika alafu apate pesa.


Article done by a senior Wazuan. Our very own He is as factual as they come and i have every reason to believe what he has written. Instead of dismissing his claim, prove him wrong!
Fyatu
#6 Posted : Monday, April 09, 2018 4:53:09 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
mulla wrote:
Fyatu wrote:
In Kenya, no one goes to jail on corruption charges.However, Steal your neighbors chicken or insult and heckle Anne waiguru and you will find yourself cooling porriadge in industrial area.


its a shame.....we need just a few high profile names found guilty and taken to jail. Right now these glamor thieves dont fear nor are they ashamed of economic crimes because no punishment ever comes to haunt them. I was disappointed when Okemo and Gichuru were not given extradition orders......the judiciary to a great extent has let Kenya down.



Who is failing Kenyans? Is it Uhuru or is it Maraga? Why are corruption cases not finding themselves on Justice Odunga's tray. He seems to me like the only judge in Kenya with some balls....hawa wengine wote ni paka(P**ssies)
Dumb money becomes dumb only when it listens to smart money
Ebenyo
#7 Posted : Monday, April 09, 2018 5:27:30 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Njunge wrote:
Ebenyo wrote:
Fyatu wrote:
In Kenya, no one goes to jail on corruption charges.However, Steal your neighbors chicken or insult and heckle Anne waiguru and you will find yourself cooling porriadge in industrial area.


@fyatu,dont believe this writer.Anatafuta mkate yake.He writes weekly in sunday nation.So ni lazima atumie kila mbinu ndio apate kitu ya kuandika alafu apate pesa.


Article done by a senior Wazuan. Our very own He is as factual as they come and i have every reason to believe what he has written. Instead of dismissing his claim, prove him wrong!



Hebu taja yeye kwa jina ya wazua alafu ndio nijue vizuri mwelekeo ya hio article.
Towards the goal of financial freedom
murchr
#8 Posted : Monday, April 09, 2018 5:51:04 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Am sure many commenting have not read the article but the writer gives a very good hypothesis. The accountants and auditors of the 2 firms need to have a seating with the parliamentary committee on energy. Something is a miss

Quote:
the amount Kenya Power says it paid out is more than what KenGen says it received.

In total, the cumulative difference between the two figures over the 10-year period comes to over Sh26bn! This represents a shortfall of about 12 per cent.

I really look forward to an explanation of this persistent difference in the payments and receipts. It is quite troubling.

Going back to the original question about the fixed charge, I did a quick test of my own hypothesis. Kenya Power started the financial year with 3.7 million domestic customers and closed with 4.6 million. Thus, the median number was about 4.1 million. Each one of them was charged Sh150 per month, making a total of Sh622 million or about Sh7.4bn in the year.

In the same period, KenGen declared that it received Sh21.7bn as “Capacity Charges” – its “fixed charge” to Kenya Power. This amount is much larger than the Sh7.4bn collected by Kenya Power.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
chiaroscuro
#9 Posted : Tuesday, April 10, 2018 7:55:43 AM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
From the article....

Quote:
I stumbled upon an anomaly in the audited financial statements of Kenya Power and Kenya Electricity Generating Company (KenGen).

Kenya Power reported it paid Sh34bn to KenGen in the 2016/17 financial year yet KenGen acknowledged that it received only Sh29bn. This left an unexplained difference of Sh5bn.


Quote:
A third reader suggested that I should look at the numbers going back five years. I did one better: I tracked the audited accounts for the last 10 years. The trend is the same: in each year, the amount Kenya Power says it paid out is more than what KenGen says it received.

In total, the cumulative difference between the two figures over the 10-year period comes to over Sh26bn!
chiaroscuro
#10 Posted : Tuesday, April 10, 2018 7:57:26 AM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
chiaroscuro wrote:
From the article....

Quote:
I stumbled upon an anomaly in the audited financial statements of Kenya Power and Kenya Electricity Generating Company (KenGen).

Kenya Power reported it paid Sh34bn to KenGen in the 2016/17 financial year yet KenGen acknowledged that it received only Sh29bn. This left an unexplained difference of Sh5bn.


Quote:
A third reader suggested that I should look at the numbers going back five years. I did one better: I tracked the audited accounts for the last 10 years. The trend is the same: in each year, the amount Kenya Power says it paid out is more than what KenGen says it received.

In total, the cumulative difference between the two figures over the 10-year period comes to over Sh26bn!



I guess those who think this is just writing to fill weekly space can simply go to the audited accounts and verify if the claims are true.
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