Higher electricity rates to be applied in Egypt starting July

Higher electricity rates to be applied in Egypt starting July

The Egyptian cabinet is planning to implement a new increase in electricity prices, starting from July 1, due to the increase in natural gas and fuel prices, according to directives from Prime Minister Mostafa Madbouly in October.

Madbouly in October had announced postponing the application of electricity price increase on different consumption segments until June 30, to prepare a new package for social protection, which was scheduled to be implemented on January 1.

The Egyptian government subsidizes electricity for the first four lowest consumption segments at half the value of its cost.

Egypt postponed applying electricity price increases for three times, which led to the state budget bearing nearly LE25 billion due to the increase in natural gas and fuel prices.

The government also announced the implementation of a plan to rationalize electricity consumption in government agencies and various ministries in order to save gas.

Al-Masry Al-Youm published the new increases in electricity rates, which will be implemented by the end of July:

New electricity prices

The first segment, which starts from zero to 50 kilowatts of electricity consumption per month, is currently priced at 48 piasters per kilowatt. In July 30, it will be increased to 58 piasters/kW.

The second tranche ranges from 51 to 100 kilowatts