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Monday, 29 January 2018

Electricity Ministry begins setting new electricity prices for next fiscal year

In case you needed a reminder: Your electricity bills are going up again in July: Under orders from the Electricity Ministry, the Egyptian Electric Utility and Consumer Protection Agency (Egyptera) has begun drawing up figures for the upcoming hike in electricity prices, which is due to hit our bills in July, ministry sources tell Al Shorouk. They tell the newspaper that the hikes for the lowest tier of consumers will be limited to 15%, after it had initially been planned to increase 25%. They say the reduction comes as the government pushed back eliminated subsidies on electricity to 2020, instead of 2019. Other sources tell Al Borsa that Egyptera plans to recommend raising prices 2-10% for residential use, while businesses could see an increase of up to 20%.

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