Egypt postpones lifting electricity subsidies to 2022

Egypt’s Minister of Electricity and Renewable Energy decided to postpone lifting electricity subsidies to 2021-2022  state budget in spite of the high cost of energy production, Mohamed Shaker said.

During a meeting organized by the Energy Committee of the Egyptian Businessmen’s Association, he said that the government will continue supporting low-income citizens

Despite the increase in electricity prices, Egypt is still one of the lowest countries in the world in this regard,  Shaker added.

Shaker explained that the price of selling electricity for high voltage is up to $9 globally, compared to $6 in Cairo, reassuring businessmen that energy prices will not exceed those of foreign competitors.

Shaker reviewed his ministry’s strategy till 2030, starting from the measures taken to overcome the problem of energy deficit, and noting that they were able to add 3,636 MW in 8.5 months with investments of $2.7 billion.

He pointed out that the long-term strategy of the Ministry of Electricity is to provide electric power until 2035 with investments of $135.3 billion to add 51,000 MW to the national electricity grid by adding new capabilities to the national network through coal-fired stations starting 2019.ل