Back to the complete issue
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.

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.