- Egypt approves tariff increment
- Ministry of Energy Spokesman confirms increase
The Egyptian Egyptian Ministry of Electricity has confirmed the increase in electricity tariffs for consumption of less than 100kilowatts of electricity. The increase in tariffs was confirmed by Ayman Hamza, Spokesperson of the Energy Ministry.
In a telephone interview on the TV show ‘Ala Massoulity’, Spokesperson Hamza stated that ”…beginning from July, there will be an increase in electricity prices for the first and second segments, with an increase of 10 piasters (per kilowatt)”. ”Electricity prices will remain fixed starting in July, including the prices of industrial consumption”, he added.
However, the new increase in tariffs will not affect customers whose consumption is more than 1000KW, Hamza clarified.
The Minister of Energy Mohammed Shaker has attributed the increase to the country’s recent gradual phase-out of subsidies. In an interview with Al-Balad TV, Shaker stated, ”When the economic reform took place in 2016, the dollar exchange rate changed dramatically, jumping from 7 Egyptian pounds to 18 Egyptian pounds. This turned the scales completely”.
The new tariffs will become effective on 1st July 2021.