Cairo – Mubasher: The Egyptian Ministry of Electricity announced the new electricity prices for household and commercial consumers.
Electricity prices for household consumers will be raised by 19.1% starting from the beginning of July, minister of electricity Mohamed Shaker said in a press conference on Tuesday.
However, the government decided to extend the subsidies for three more years ending in fiscal year (FY) 2024/2025 instead of a previous plan to end subsidies in FY21/22 due to the coronavirus (COVID-19) pandemic, Shaker added.
Extending the electricity subsidies will cost the country an amount of EGP 26.7 billion, he revealed.
For household consumers, the 0-50 kilowatt (KW) consumption bracket will pay EGP 0.38 per KW, up from EGP 0.30, while the 51-100 KW consumption bracket will pay EGP 0.48 per KW instead of EGP 0.40.
On the other hand, the government decided to slash electricity prices for the industrial sector for medium and high-voltage consumption brackets by EGP 0.10 per KW over the next five years. This will cost the government EGP 22 billion.
