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ENERGY-
#1- Stolen electricity now comes at a hefty price: Electricity being consumed by buildings illegally will come at the hefty cost of EGP 2.15 per kWH, Al Arabiya reports, citing sources it says have knowledge of the matter. The price tag is on the higher end of the electricity tariffs for households, which following the latest increase sat between EGP 0.68 and EGP 2.23 per kWH.
ICYMI: The government last month gave electricity distribution companies the greenlight to install coded meters in buildings illegally drawing electricity as part of a wider effort to reduce energy consumption 18% by 2035. Electricity distributors have been suffering major losses with some companies losing over 40% of power produced to theft.
The government also took to the airwaves to get the message across: The government is working to curb electricity theft and impose harsher penalties on those found guilty, Cabinet Spokesperson Mohamed El Homsani said in a phone call with Ala Mas’ouleety’s Ahmed Moussa (watch, runtime: 19:14). Citizens proven to be stealing will no longer receive state support, including food subsidies, fertilizer subsidies, and benefits extended under the Takaful and Karama programs.
#2- Egypt and Italy are set to complete preliminary studies for their planned 3 GW, USD 2.5 bn electric interconnection project by 4Q this year, sources from the Electricity Ministry told Al Mal. The study, which is funded by the Italian side and includes surveying the proposed route, identifying potential starting points in Egypt and Italy, and assessing the depth profile of the Mediterranean Sea, will be presented to the Egyptian side for review upon completion, according to the sources.
Remember: The two sides are assessing the potential to build a 3 GW, 2.8k km, HVDC cable that would connect Egypt’s West Sohag region to Italy’s Dolo substation in the northern Mestre Industrial Area. The corridor could meet 5% of Italy’s peak electricity demand and could expand to include an interconnection with the Gulf.
MANUFACTURING-
Veterinary vaccine factory in the works? The Agriculture Ministry wants to build a veterinary vaccine production plant targeting exports to African and Asian markets, according to a document seen by Al Mal. The ministry is looking for private players — be it local or foreign — to set up the project and is currently working with the General Authority for Investment and Free Zones to promote the project to investors at home and abroad.
