Egypt’s electricity exports fell 15% to 47 mn KWh in November from a peak of 55 mn KWh in July, Al Mal quoted unnamed sources as saying. The sources said that the political situation in Libya, the seasonal fall in consumption, and efforts in Jordan to become energy self-sufficient had caused the decline. The news came on the same day that sources in the Electricity Ministry revealed that it is studying increasing its electrical connection capacity with Jordan above 400 MW. Egypt — which is currently linked with Jordan, Palestine, Libya, and most recently Sudan — is also finalizing an interconnection agreement with Saudi Arabia, which is due to be signed in May. A USD 4 bn EuroAfrica project to connect the electricity grids of Egypt, Cyprus, and Greece is also scheduled for completion by December 2022.
More from Enterprise
Your points are currency, treat them like one
Most people treat credit card points like a pleasant surprise:…
How should young people think about money and budgeting?
Your income and your time are your biggest assets in…
New tax bill heads to House ahead of July rollout
The new package scraps the contentious capital gains tax, overhauls…
The apps reshaping how we manage money
Today, users can invest in stocks, gold, or money market…