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Tuesday, 12 June 2018

Heliopolis Housing in talks with Electricity Ministry to sell power in New Heliopolis

Property developers are looking to deregulation of the energy market to provide them with new recurring revenue streams: Heliopolis Housing & Development is in talks with the Electricity Ministry for permission to sell power in its New Heliopolis project, Vice Chairman Wael Youssef tells Al Mal. If approved, the company will build a EGP 525 mn transformer station for the new development and will have the ministry install electricity meters, he added.

Background: As we noted back in April, the Egyptian Electricity Utility and Consumer Protection Agency (Egyptera) has reportedly been holding high-level meetings to discuss the pricing scheme for power produced and sold under an independent power producer (IPP) framework. Under the framework, private companies are allowed to directly sell power to consumers while paying the state a fee to use the national grid for transmission.

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