Electricity Ministry sets vision of new electricity prices

CAIRO – 4 February 2019: The Ministry of electricity and Renewable Energy, and the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) started to set visions to restructure the prices of electricity bills according to the plan to cut subsidies gradually until 2022 in July of each year.

Minister of Electricity and Renewable Energy Mohamed Shaker revealed that the joint team from the ministry and EgyptERA commenced to work on a group of visions to restructure the prices of electricity within the plan of lifting subsidies which started five years ago, to be completed in fiscal year 2021/2022.

Egypt embarked on a bold economic reform program that included the introduction of taxes, such as the value-added tax (VAT), and cutting energy subsidies, with the aim of trimming the budget deficit.

Shaker noted that the visions will be presented to Prime Minister Mostafa Madbouli to endorse the new prices which will be applied on July's bill.

The minister affirmed that there won’t be any raise in prices until July 2019.

According to Shaker, the government puts low-income citizens into consideration when setting the prices. “Low-income citizens consume little electricity, so they will enjoy an exchangeable subsidy even after cutting the subsidy in full in 2022.”

The prices of electricity which are currently applied and came in force on July 1, 2018 are as follows:

Housing use:

First bracket: From 0 to 50 kilowatts = (22 piasters up from 13).
Second bracket: From 51 kilowatts to 100 = (30 piasters up from 22).
Third bracket: From 0 to 200 kilowatts = (36 piasters up from 27).
Fourth bracket: From 201 to 350 kilowatts = (70 piasters up from 55).
Fifth bracket: From 351 kilowatts to 650 = (90 piasters up from 75).
Sixth bracket: From 651 to 1000 kilowatts = (135 piasters up from 125).
Seventh bracket: From 0 to more than 1000 kilowatts = (145 piasters up from 135).

Commercial use:

From 0 to 100 kilowatts = (55 piasters up from 45).
From 0 to 250 kilowatts = (100 piasters up from 84).
From 601 to 1000 kilowatts = (115 up from of 135).
From 0 to over 1000 kilowatts = (150 piasters up from 140).

Trade Exchange bet. Egypt, Germany hits €5.81B in 2017

CAIRO - 21 June 2018: Trade Exchange between Egypt and Germany rose 5 percent in 2017, reaching €5.81 billion, compared to €5.57 billion in 2016, according to Minister of Industry and Foreign Trade Amr Nassar. The minister clarified that the current German investments in Egypt amount to $641 million through 1080 projects in the fields of industry, services, agriculture, construction, communications, information technology and finance.