Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    US employment cost index 3.6% up in year to June 2025    Egypt welcomes Canada, Malta's decision to recognise Palestinian state    Pakistan says successfully concluded 'landmark trade deal' with US    Sterling set for sharpest monthly drop since 2022    Egypt, Brazil sign deal to boost pharmaceutical cooperation    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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



Slight increase in electricity prices, cabinet to approve decision in days: Mohamed Shaker
The modification to the exchange rate is the main reason for the increase in electricity prices
Published in Daily News Egypt on 12 - 07 - 2016

Minister of Electricity and Renewable Energy Mohamed Shaker said on Tuesday that the cabinet will approve the new tariff on electricity consumption within days.
Shaker told Daily News Egypt that the increase in electricity prices will be slight during the first three segments of consumption and will then steady increase while consumption becomes higher.
The modifications of the exchange rate between the Egyptian pound and US dollar, the changes to the price of gas imports from abroad, and the high price of equipment needed for energy consumption were some of the major factors that led to the removal of electricity subsidies gradually in order to keep pace with development. This coincides with expansion plans that would establish new stations for the production, transmission, and distribution of energy.
Shaker said it is better to provide financial subsidies to citizens, especially since the state subsidises electricity by about EGP 39bn. According to this year's subsidy strategy, electricity should not be subsidised by over EGP 20bn.
According to the 2016/2017 restructuring programme for electricity prices for household use, the first tranche of 0 kW to 50 kW amounts to 10 piastres, from 51 kW to 100 kW amounts to 19 piastres, and from 101 kW to 200 kW amounts to 26 piastres.
The fourth tranche of 201 kW to 350 kW amounts to 35 piastres, from 351 kW to 650 kW amounts to 44 piastres, from 651 kW to 1,000 kW amounts to 71 piastres, and more than 1,000 kW amounts to of 81 piastres per kilowatt/hour.
In terms of the international arbitration for energy purchase agreements regarding the energy produced from the new and renewable energy feed in-tariff projects, the minister said the government will not comply with companies' desires to resolve disputes through international arbitration outside Egypt. However, such arbitration should take place inside Egypt at the Cairo Regional Centre for International Commercial Arbitration (CRCICA).
In a different context, Shaker said that the second phase of the feed-in tariff projects will be inaugurated on 27 October, one day after the end of the first phase.
He admitted the first phase has suffered from certain circumstances, but the second phase will hopefully be stronger. Shaker refused to disclose information on the tariff for the second phase.


Clic here to read the story from its source.