President William Ruto on Sunday, January 1, denounced reports that the cost of electricity will spike in 2023.
Speaking during a church service at Siloam Ministry in Bamburi, Mombasa, Ruto insisted that the removal of subsidies would not cause an increase in tariffs.
He explained that the new costs had already taken effect in September 2022 hence the spike in the price witnessed towards the end of the year.
"I would like to allay fears being spread that there will be an increase in the cost of electricity. I want to ensure the country that we removed subsidies in August.
"There will be no additional charges today or going into the future on electricity bills," the President declared.
Ruto revealed that the state was in fact working on a formula to review the costs of all forms of energy used by Kenyans to make them pocket friendly to Kenyans.
Moreover, he downplayed reports that the cost of living and the level of unemployment would leap in the new year with the dropping of the subsidies and increase of taxes.
"Contrary to the word being peddled around that there will be job losses and additional cost of living.
"Let me assure you that we have made the right decisions on ensuring that we have a predictable platform on how to run the economy," he clarified.
The Head of State maintained that the subsidies were only hurting the economy and drove the country into unnecessary debt.
He reiterated his vision of converting Kenya into a state that majorly relied on its taxes to fund its budget and reduce the reliance on foreign debt.
Ruto was accompanied by Mombasa governor Abdulswamad Sheriff Nassir and East African Legislative Assembly (EALA) MP Hassan Omar.
