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 .

Image used for illustrative purpose. Electricity meters are pictured in the cellar of an apartment building in Hamburg .

REUTERS/Christian Charisius

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.

Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Energy