Egypt - The Egyptian government is considering a proposal to regularly set electricity prices every 3 or 6 months, similar to the Fuel Automatic Pricing Committee, unnamed government officials told Asharq business on February 8th.

The proposal comes after the significant drop in the Egyptian pound against the US dollar as well as the increase in gas and diesel prices, according to the sources.

In July 2014, the Egyptian government began to gradually abolish electricity subsidies. This plan was scheduled to continue over a period of 5 years that end in 2019; however, the government decided to extend the subsidy program until June 2025 to mitigate the repercussions of the Covid-19 pandemic on citizens.

The last time Egypt raised electricity prices was in July 2021, at rates ranging between 8.5% and 26% for households.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (