Egypt: New increases in electricity prices to take place in July
Residential electricity bills are going up by as much as 26% at the start of the new fiscal year
Image used for illustrative purpose. Electricity meters are pictured in the cellar of an apartment building in Hamburg .
By Staff Writer, Arab Finance
ArabFinance: The Ministry of Electricity revealed the new increases in electricity prices, effective July 1st, ahead with the country’s plan to gradually phase out electricity subsidies by 2025, the ministry said in a press release.
Residential electricity bills are going up by as much as 26% at the start of the new fiscal year (FY) 2021/2022.
The government had originally planned to fully eliminate subsidies by July 2022, but decided last summer to push the date to the same month in 2025.
Electricity Minister Mohamed Shaker previously said his ministry wants to avoid putting too much pressure on household consumers.
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