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Wednesday, 11 April 2018

Power prices could rise by as much as 45% in July for top-tier consumers -sources

Power prices could rise by as much as 45% in July for highest-bracket consumers: The Egyptian Electricity Utility and Consumer Protection Agency (Egyptera) has reportedly finished drafting a new formula for power prices that are set to come into effect in July, Electricity Ministry sources tell Al Shorouk. The new scheme — a continuation of the government’s strategy to gradually phaseout power subsidies until they’re eliminated in FY2020-21 — sees prices rising within a range of 30-45%, from the lower- to the higher end of the consumption spectrum, with the top two tiers set to pay a higher price for power than its cost of production in order to partially cover the costs of subsidizing electricity for lower-income brackets. The increase breaks down as follows:

  • The 0-50 KW bracket will pay EGP 0.16 per KW, up 30% from EGP 0.13;
  • The 51-100 KW bracket will pay EGP 0.27 per KW, up 35% from EGP 0.22;
  • The 0-200 KW bracket will pay EGP 0.37 per KW, up 35% from EGP 0.27;
  • The 201-350 KW bracket will pay EGP 0.75, up 35% from EGP 0.55;
  • The 351-650 KW bracket will pay EGP 1.07, up 40% from EGP 0.75;
  • The 651-1000 KW bracket will pay EGP 1.68, up 35% from EGP 1.25;
  • The 1000+ KW bracket will pay EGP 1.95, up 45% from EGP 1.35.

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