The devaluation is one of the most pressing issues facing the Electricity Ministry, Electricity Minister Mohamed Shaker told the House Energy Committee, in a statement whose timing leaves much to be desired. A devaluation by so much as EGP 1 could see the ministry’s expenses rise by EGP 5 bn, Ahram Gate reports. A devaluation would make Egypt’s fuel imports more expensive, especially as one third of them goes to power plants, and increase the financing gap for expensive energy projects. Shaker reassured MPs that this would have no bearing on subsidies, and the government will bear the brunt of the hit. Perhaps wisely, Shaker never reportedly elaborated that subsidies will only be maintained for the lowest consumption tiers as per the reform agenda.