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Wednesday, 18 May 2016

Deregulation of electricity still part of Power Ministry agenda

Power sector deregulation not forgotten: Electricity Minister Mohamed Shaker alluded to government plans to partially deregulate the power market, calling it one of the five main points of the ministry’s strategy. This is the first statement to come from the minister about deregulation for some time now. For those who have understandably forgotten about it with the passage of time, the previous Mahlab cabinet had approved a bill that would govern electricity production and distribution in February 2015 that, if enacted, would see private companies take an increased role in directly managing power facilities, with the government retaining responsibility for overall policy-making, organization and monitoring of the industry. The strategy’s other key points include increasing generation capacity, ensuring their sustainability, working on making power companies and institutions more efficient, and cutting pollution. Shaker added that at present the ministry was working on projects worth EGP 515 bn, financed mainly through 35-year loans, Al Ahram reports. His statements come at a round of inspection with President Abdel Fattah El Sisi at the launch of the development of the 1 GW power plant west of New Assiut. The president also inaugurated eight other plants, including a 2.3 GW combined-cycle plant in North Giza, according to Al Ahram.

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