Jan. 3 (Bloomberg) -- Kenya Electricity Generating Co. (KEGC), the country’s biggest power producer, rose for a second day on expectations it will generate more electricity in coming months.
The stock jumped as much as 6.5 percent to 9 shillings and traded 3.6 percent higher at 8.75 shillings as of 12:52 a.m. 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., said in a phone interview today.
Hydroelectric plants account for about 65 percent of the country’s total power generation, according to the company’s website.
To contact the editor responsible for this story: Shaji Mathew at firstname.lastname@example.org