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Thursday, 22 February 2018

Electricity Ministry postpones subsidy elimination to FY2020-2021, bills still going up in July

Electricity Ministry postpones subsidy elimination to FY2020-2021, but bill will still go up in July: The Electricity Ministry is planning to delay the full elimination of subsidies on power bills to FY2020-2021 from FY2019-2020 as had been originally planned, Minister Mohamed Shaker announced yesterday, Al Shorouk reports. Electricity prices will rise in July as planned, Shaker added. The minister had said earlier this month that Egyptian Electric Utility and Consumer Protection Agency (Egyptera) officials were already working on a new pricing formula that is likely to consumers across all use tiers. Sources had also said that the lowest consumption tier would see their bills rise by 15% at most.

New FiT for consumers in the works? July will also see the ministry announce a new feed-in tariff (FiT) scheme meant to encourage consumers themselves to install solar panels and sell electricity to the state at a “reasonable price,” according to Shaker.

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