Electricity exports reach $3.3M in first 4 months of 2017

CAIRO - 22 July 2017: Egypt's electricity exports reached about $3.3 million during the first four months of the current year, the Central Agency for Public Mobilization and Statistics (CAPMAS) said on Saturday.

The figure represents a decline in the sector’s exports compared to the same period of 2016, when electricity exports reached $16.3 million.

In its statistical bulletin on the volume of foreign trade in Egypt in the period from January to April 2017, CAPMAS showed that Egypt's electricity exports during this period went to Jordan.

In the same period last year, exports also went to Jordan, in addition to Libya, where exports o Libya in January-April 2016 amounted to $8.9 million, while exports to Jordan reached $7.3 million.

Meanwhile, Egypt had no electricity imports in that same period, according to another report from CAPMAS.

In June 2015, Siemens was awarded building three power plants in Egypt in cooperation with local partners Orascom Construction and Elsewedy Electric. Upon completion in May 2018, the three plants will boost Egypt's power generation capacity by 45 percent.

Recently, the Ministry of Electricity announced new electricity tariffs, with price increases ranging between 15-36 percent depending on the consumption bracket.

This comes as part of Egypt’s economic reform program that entails cutting energy subsidies.