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Tuesday, 22 October 2019

Egypt's electricity ministry announces new rates for electricity prices to be applied in July

The new prices aim to cut energy subsidies from EGP 49 billion to EGP 22 billion in order to alleviate the financial burden on the ministry and help pay off its debts to the petroleum ministry, Minister Shaker said

Ahram Online , Tuesday 21 May 2019
Electricity minister Shaker
File Photo: Egypt's Electricity Minister Mohamed Shaker speaks during a news conference in Cairo, Egypt, December 6, 2015 (Photo: Reuters)
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Views: 9814

Egypt's Ministry of Electricity announced on Tuesday the new electricity prices, to be applied from 1 July and to appear on the electrical bill for consumers in August.

First tier of usage: First 50 kilowatt hours – increased from 22 to 30 piastres* per kilowatt hour

Second tier: 51-100 kilowatt hours – increased from 30 to 40 piastres

Third tierFirst 200 kilowatt hours – increased from 36 to 50 piastres 

Fourth tier: 201-350 kilowatt hours – increased from 70 to 82 piastres 

Fifth tier: 351-650 kilowatt hours– increased from 90 to 100 piastres 

Sixth tier: 651-1000 kilowatt hours - increased from 135 to 140 piastres 

Seventh and final tier: From Zero to more than 1000 kilowatt hours– 145 piastres, no change

In a press conference on Tuesday, Egypt's Electricity Minister Mohamed Shaker said the ministry aims to cut energy subsidies from EGP 49 billion to EGP 22 billion in order to alleviate the financial burden on the ministry and the state through paying off its debts to the petroleum ministry.

"We seek to develop the internal grids in villages to provide services for our citizens in villages without any obstacles. The state has accomplished a lot of achievements in the power sector in the past years," Shaker said.

The ministry explained that the increase in the new prices of electricity amounts on average to a 14.9 percentage increase,  to be included in the budget fiscal year 2019/2020, set to start in July.

The last increase in the price of electricity, which was applied in the summer of 2018, amounted on average to a 26.8 percent increase.

*1 EGP = 100 piastres

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