Cabinet denies plan to set electricity tariffs every 3-6 months
Updated 2/12/2023 9:59:00 AM
Arab Finance: The Egyptian government denied reports that it will regularly set electricity prices on a quarterly or semi-annual basis, the cabinet said on February 11th.
On February 8th, Asharq Business reported that Egypt is considering a proposal to set electricity prices every 3 or 6 months, similar to the Fuel Automatic Pricing Committee.
In July 2014, the Egyptian government began to gradually abolish electricity subsidies. This plan was scheduled to continue over a period of 5 years that end in 2019; however, the government decided to extend the subsidy program until June 2025 to mitigate the repercussions of the Covid-19 pandemic on citizens.
The last time Egypt raised electricity prices was in July 2021, at rates ranging between 8.5% and 26% for households.
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