No exemptions in new power tariffs: Ministry spokesperson

CAIRO – 6 July 2017: New electricity tariffs will be announced Thursday, with all consumption brackets to be affected, Spokesperson of the Ministry of Housing Ayman Hamza said Wednesday night.

Speaking to talk show ‘Yahduth Fi Masr’ (Happening in Egypt) on MBC Masr channel, Hamza said the new tariffs will be seen in August’s power bills.

In five years, all power meters will be converted into prepaid meters, where consumers will subscribe in advance in a certain bracket, to control their consumption, Hamza added.

Prices are expected to be raised 30-40 percent across all categories, even across the lowest consumption brackets, according to the government estimates.

As part of Egypt’s economic reform program, launched in July 2014 to slash spending on fuel and electricity subsidies, the move attempts to curb an increasing budget deficit. The application comes gradually as the government announces new prices each fiscal year.

Last week, the government imposed new fuel prices as price of 80-octane gasoline soared from LE 1.60 ($0.08) to LE 3.65 per litre, while the 92-octane increased from LE 3.50 to LE 5.00 per litre.