Egypt has raised electricity prices for homes by up to 50 percent, two government sources told Reuters, while Egyptian newspapers said the new increases ranged from 30 to 35 percent.
Al-Shorouk newspaper quoted “an informed source in the Ministry of Electricity and Renewable Energy” as saying that “the government has agreed to start implementing a new increase in electricity consumption bracket prices, to be calculated from the first of August, retroactively for 15 days, with regard to prepaid meters.”
Al-Masry Al-Youm newspaper said, “The reason behind the increase is the high price of producing a kilowatt/hour, the increase in the dollar price, and the government’s decision to stop implementing the load shedding plan until the end of summer.”
According to the newspaper, “The new increase in electricity consumption bracket prices was implemented, starting last Saturday, with regard to prepaid meters, and the new bracket increase will be collected in the September bill, for old and mechanical meters.”
The International Monetary Fund recently called for “the need to restore energy prices in Egypt to cost-recovery levels, including retail energy prices, by December 2025. This includes fuel and electricity prices, and according to the Fund, this is necessary to support the smooth provision of energy to the population and reduce imbalances in the sector.”
It is worth noting that the new prices can be found here.
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2024-08-20 14:55:27