Dubai Expo 2020 recommends postponing a year amid virus    US expected to renew sanctions waivers allowing Iran nonproliferation work: Sources    How will we vote? Outbreak revives debate mail-in ballots    Poland vote could be postponed if safety not guaranteed: President    What you need to know about the Central Bank of Egypt's new cash deposits and daily withdrawal limits    Saudi, UAE businesses battle cash crunch despite anti-coronavirus stimulus    Tokyo Olympics rescheduled for July 23-Aug 2021: Organizing committee    Iran's coronavirus death toll reaches 2,757: Health official        Serie A hits back at Italy sports minister Spadafora over 'bubble' remark    Drop in China's new coronavirus cases; none in Wuhan for sixth day    Egypt's FRA launches policies for micro-finance activity amid coronavirus    Mourinho to take Tottenham training via video amid coronavirus lockdown    Egypt's defender Elmohamady proud of 10-year milestone in England    Facebook users add ‘Stay At Home' frame to profile photos    How coronavirus affects real estate market in Santa Clarita Valley    UK epidemic is slowing and antibody test could be ready in days, top epidemiologist says    Twitter removes 2 Bolsonaro tweets questioning coronavirus quarantine    Egypt to extend closing mosques over coronavirus fears – minister    El-Tayeb urges Egyptians to stick to coronavirus preventative measures    Egypt, MENA growth forecast at 2.7%, -0.3% respectively: IIF    Prosecution warns of EGP 300k fine or 2-year jail for spreading fake coronavirus news    Al-Sisi discusses joint coronavirus efforts with Abu Dhabi Crown Prince    Saudi Arabia intercepts missiles over Riyadh    CBE temporarily regulates cash deposits, withdrawals    Lagging COVID-19 response to shield frail economy: Rouhani    Apple works with US House to release coronavirus app, website    California's houisng market unclear after new restrictions amid coronavirus    Farwell to Egyptian comedian George Sidhom    Weekend's virtual concerts, plays, and festivals people can stream at home    Egyptian comedy icon George Sidhom dies at 81    Shooting Egypt's Ramadan television series in the time of coronavirus    Egyptian court sentences five to death for vandalising gas pipeline, killing nine    Amid coronavirus outbreak, Egyptian Premier League cancellation seems inevitable    Brazilian football stadiums transformed into hospitals to treat coronavirus patients    Stay At Home: Ministry of Culture to publish free books online for public browsing    ‘We are here to boost the morale': Ahmed Zeidan, Egypt's ROOM Art Space& Café    IOC postpones Tokyo Olympics due to coronavirus pandemic    Playing for time    Water effects of the dam    What to watch to kill time in quarantine?    Japan PM Abe agree on delaying the Tokyo Olympics for one year    Ethiopia has not sent Egypt latest designs for GERD: Minister of Irrigation    Al-Sisi appreciates Kenya's support to Egypt's stance on GERD    Nigerien President hails Egypt's diplomatic attempts to reach agreement over GERD    Tom Hanks and wife Rita Wilson announced both test positive for coronavirus    Cairo court acquits Mubarak's sons of stock market manipulation    Egypt's President Sisi pardons some prisoners on 25 Jan. Revolution anniversary    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Watch your meter
Published in Al-Ahram Weekly on 13 - 07 - 2017

AS OF LAST Thursday, electricity prices in Egypt increased by 18 to 42 per cent for households and 28 to 45 per cent for industrial and commercial establishments. The price rises are part of government plans to remove subsidies on electricity with a view to removing power subsidies altogether.
The government has said that the increases will not affect lower-income brackets because they primarily target heavy consumers. The subsidy cuts and associated price rises are part of an International Monetary Fund (IMF)-supported economic reform programme aimed at streamlining government finances. According to the Ministry of Electricity, last year's floatation of the pound caused the cost of power subsidies to rise from LE40 to LE82 billion. The latest price hikes will help the government to reduce that figure to LE52.7 billion in the current fiscal year and LE 43.4 billion in 2018-19.
The government had been planning to phase out electricity subsidies over five years to end in the 2018-19 fiscal year. But the minister of electricity said during a press conference this week that this period had been extended to 2021-2022 in order to ease the pressure on those hard hit by the economic reform measures, the depreciation in the value of the pound and high inflation rates. The electricity price hikes come in the wake of hikes in fuel prices by 50 to 100 per cent, which have had significant knock-on effects on a range of other prices.

Clic here to read the story from its source.