News

Egypt’s Minister of Electricity Announces Annual Increase in Electricity Bill will Take Place in July

mm
Egypt’s Minister of Electricity Announces Annual Increase in Electricity Bill will Take Place in July

Photo credit: REUTERS/Phil Noble

The Minister of Electricity and Renewable Energy Mohamed Shaker announced on Monday that the annual increase in electricity bills will take place at next July.

According to an announcement made five years ago, there has been gradual lift of electricity subsidies from 2015 until the end of this year.

However, the electricity prices in Egypt are still less than the world price, Shaker added clarifying that “I am the only minister who announced the date of increases without backtracking.”

“Electricity subsidies will not be lifted permanently, current prices are lower than world prices and the state subsidizes electricity by at least USD 30 or USD 40 billion,” Shaker said.

The Minister added that the Ministry of Electricity is still in debt to the Ministry of Petroleum EGP 145 billion, and if electricity bills continue at the same prices, the deficit will increase to EGP 36 billion.

While the state will support the Ministry of Electricity with EGP 16 billion with the help of the Ministry of Finance, the remaining EGP 20 billion will be covered by the increase in prices.

The minister pointed out that the electricity prices are linked to consumption and the US dollar exchange rate. In the case of the fall in dollar price, electricity prices will drop immediately.

Shaker added that the ministry is increasing the efficiency of operation, reducing the consumption of fuel, saving money, and implementing the provision of 191 grams per kilowatt. The clock provides 288 million annually.

In 2016, Egypt’s Ministry of Electricity has launched a three-year advertising campaign to encourage citizens to reduce their energy consumption to face the country’s recent energy crisis.

The campaign calls on citizens to do their part in solving Egypt’s energy troubles.

Over the last few years, Egypt has been suffering from rolling blackouts during peak consumption hours as a result of power stations being neglected for years and production remaining at a standstill while consumption has continued to rise.

The government has sought to encourage reduced consumption while also seeking to diversify the country’s energy sources, including solar energy and other renewable energy sources.

As a whole, Egypt seeks to source 20 percent of its energy needs from renewables by 2020.

*Cover photo credit: Reuters/Pascal Rossignol

'Dare to Dream Of Freedom' Billboard in Tel Aviv Protesting Israel's Occupation
Mo Salah Secures Golden Boot for Second Consecutive Year


Subscribe to our newsletter


News

More in News

Canada Bans Entry For Travelers From 10 Countries, Including Egypt

Marina Makary1 December 2021

‘A Disgrace’: Fans React to Egypt’s Salah’s Seventh Ranking in the Ballon d’Or 2021

Egyptian Streets30 November 2021

Egyptians Ages 12 to 15 Now Eligible for COVID-19 Vaccination

Amina Zaineldine29 November 2021

Egypt Bans Flights from Seven African Countries Over New COVID-19 Variant

Egyptian Streets27 November 2021

Egypt’s President Visits West Aswan to Follow Up on Relief Efforts

Mona Bassel25 November 2021

Egyptian Actress Soheir El-Bably Passed Away Aged 86

Nadine Khaled22 November 2021

Registration for Egypt’s World Youth Forum 2022 Now Open

Egyptian Streets21 November 2021

Egypt’s Landmark ‘RiseUp Summit 2021’ Coming to the Pyramids

Marina Makary21 November 2021