Electricity subsidy to be totally removed by 2019- NREA

Egyptian government is set to remove the subsidy on services of electricity sector totally by 2019, Chairman of the New and Renewable Energy Authority (NREA) Mohamed Salah El-Sobky said Wednesday. This comes as pursuant to state’s plan to improve the sector and upgrade its quality.

El-Sobky made these remarks during Egypt Energy Investment Summit that take place from 16-18  February 2016.

The Summit will bring together the world’s leading power developers, investors and technology and solution providers to discuss capacity building within Egypt’s industrial communities, creating a dynamic platform for the accelerated development of Egypt’s energy sector.

Government officials, regulators and public sector stakeholders will discuss the role of DFIs and the private sector to fund and build 30GW of electricity generation, transmission and distribution projects that are about to go to tender, and projects which will require additional investments and partnerships to be completed.

Egypt’s National Energy Strategy will also be discussed with all stakeholders including; the New and Renewable Energy Authority, EgyptERA, Egyptian Electricity Holding Company participating, as well as the leading private and international investors El-Sewedy, EGAS, World Bank, AfDB, IFC, EBRD, KfW, the Egyptian Exchange, Schneider Electric, Siemens and ABB.