Electricity Ministry considers reducing fuel oil used in production

The Electricity Ministry is considering reducing fuel oil used in production to reduce the financial burden on the Egyptian Electricity Holding Company, unnamed sources tell Daily News Egypt. Following the float, fuel oil increased in price to EGP 2,500 per tonne from EGP 2,300 while one cubic meter of natural gas rose to EGP 1.5 from EGP 0.9. Another scenario proposed by the ministry was to increase electricity prices, but President Abdel Fattah El Sisi pushed strongly against a price hike.