Cabinet approves EV tariffs
Proposed energy tariffs for electric vehicle (EV) charging stations won Cabinet’s signoff today, according to a statement. The tariffs cover both the cost of electricity sold to charging stations as well as charging costs to end users.
WHAT DOES INDUSTRY THINK? The tariff is “suitable” as a start and will be revisited annually, Infinity’s Shams El Din Abdel Ghaffar tells us. Abdel Ghaffar, who is managing director of the company’s EV division, believes the tariffs are an important step towards the more widespread adoption of EVs here. “The tariff is suitable as a start, and will be revisited annually by the government in order to ensure that it is feasible for EV station and infrastructure developers, like ourselves,” he adds. Infinity is counting on the government’s support as a catalyst for EV adoption, he says.
These are the same tariffs that the Egyptian Electricity Utility and Consumer Protection Regulatory Agency (Egyptera) proposed last September, Infinity tells us. Details on the timeline for implementation remain unclear. Until the new pricing is implemented, you can charge up your EV at Infinity’s stations without paying a piaster.
Also approved at today’s meeting:
- Funding from French development agency AFD program to help strengthen the social safety net in FY2021-2022. AFD will pledge EUR 150 mn to support the rollout of Egypt’s universal healthcare system, French Finance Minister Bruno Le Maire previously told us;
- A draft presidential decree ordering the establishment of a non-profit scientific research-intensive private university in the new capital’s Knowledge City. The facility will be called the Egypt Informatics University and will focus on computer and information sciences, digital arts, and business tech skills; and
- A decision to move ahead with the implementation of the government financial management information system (GFMIS) to replace the “closed” financial management system that was previously used by the state and its affiliated bodies. The GFMIS system constitutes (pdf) the suite of electronic tools used to automate the government's financial management processes.