Back to the complete issue
Wednesday, 3 August 2016

Water prices expected to increase another 30% for consumers, 50% for industry

With fiscal belt-tightening being the mantra of the day, the government is reportedly studying hiking potable water prices another 30% for consumers and 50% for industrial and commercial use, government sources tell Al Borsa. The Housing Ministry’s drinking water and wastewater unit — which is setting the new prices in conjunction with the Water Holding Company — plans enforce the 30% raise on consumers of the second to fourth highest consumption tier, or 40% of users. The prices are expected to come into effect during the second half of the FY2016-17 fiscal year. As we noted back in February, Mamdouh Reslan, head of the water holding company, said prices of water began increasing in January at a range of EGP 0.07 to EGP 0.20 per cubic meter depending on the consumption tier, and will continue to rise annually for the next five years.

What about electricity? We have still not seen word on when new electricity prices will be announced, let alone come into effect. New prices were announced for consumption in July (the August billing cycle) and then clawed back because Cabinet wanted to look into the issue.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.