Plans for deregulating the sector move forward
While the Natural Gas Act lingers, there are signs of progress on the deregulation of the electricity sector. Deputy Electricity Minister Osama Esran attended the first meetings looking into restructuring the Egyptian Electricity Transmission Company (EETC), AMAY reports. The move, which would see the company transform into an independent regulator and transmission system operator as per the executive regulations of the Electricity Act, is the first step in setting up a deregulated electricity market. The Electricity Ministry had contracted ESB International to advise on the demerger of the EETC from the Egyptian Electricity Holding Company (EEHC) last month as part of the process.
In other sector news, Electricity Ministry Undersecretary Sabah Mashaly revealed that the four companies the ministry plans to form to run and manage the three Siemens power plants are making their way through the regulatory pipeline, Al Borsa reports. The general assembly of the EEHC will meet this month to vote on forming the companies, Mashaly said, adding that each will have initial capital of EGP 40 bn. The four companies, one for each of the plants and a fourth to run maintenance, will be among the state-owned companies slated for IPO, the story notes.