No new hikes in Egypt’s electricity prices until July – minister

Egyptian Electricity Minister Mohamed Shaker announced on Monday that there will be no increased in electricity prices until July 2019.

He added during a press conference that the gradual rise in electricity prices is proceeding according to a previously approved plan by the Cabinet. “The gradual hikes will end by July 2021,”Shaker said.

Shaker also explained that electricity prices might decrease in case fuel prices decrease. However, he noted that “there is no alternative to continuing to develop and expand Egypt’s electricity network through lifting all subsidies provided by the government according to the economic reform program.”

Last June, Shaker announced the new hikes to save the country from potential losses that might have reached 109 billion pounds.

He said that users of the first bracket of the housing use segment only bear 18 percent of the total cost of the bill; as they pay 12 pounds while the actual bill costs 65 pounds.

The new prices which became effective in July 2018 come as part of the government’s economic reform program, according to the minister.

Source: Egypt Today