{"id":547313,"date":"2022-06-16T03:58:38","date_gmt":"2022-06-16T03:58:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/16\/no-electricity-price-hike-before-2023\/"},"modified":"2022-06-16T03:58:38","modified_gmt":"2022-06-16T03:58:38","slug":"no-electricity-price-hike-before-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/16\/no-electricity-price-hike-before-2023\/","title":{"rendered":"No electricity price hike before 2023"},"content":{"rendered":"

<\/a> Electricity prices for residential consumers will remain unchanged until at <\/strong>least <\/strong>the end of <\/strong>202<\/strong>2<\/strong>, Prime Minister Moustafa Madbouly said during a presser following cabinet\u2019s weekly meeting (watch, runtime: 16:38<\/a>). Madbouly\u2019s statement follows an announcement by President Abdel Fattah El Sisi earlier this week<\/a> that the government would not introduce hike prices at the beginning of the fiscal year on 1 July in a bid to ease the weight of inflation on the public.<\/p>\n

Residential electricity bills <\/strong>were set to rise<\/a><\/strong> by as much as 21% on 1 July<\/strong>, as per the government\u2019s six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025. Households in the highest consumption tiers \u2014 which as of last year have not received subsidies \u2014 would have seen prices rise by up to 6%.<\/p>\n

Cabinet will reassess the situation in six months\u2019 time<\/strong> and decide whether to continue to leave prices at current levels, Madbouly said yesterday.<\/p>\n

The delay comes with a hefty price tag for the state: <\/strong>The six-month delay will cost the state some EGP 10 bn, Madbouly said. Electricity prices are costing the state EGP 16 bn a year, while EGP 4 bn is spent on electricity subsidies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Electricity prices for residential consumers will remain unchanged until at least the end of 2022, Prime Minister Moustafa Madbouly said during a presser following cabinet\u2019s weekly meeting (watch, runtime: 16:38). Madbouly\u2019s statement follows an announcement by President Abdel Fattah El Sisi earlier this week that the government would not introduce hike prices at the beginning […]<\/p>\n","protected":false},"author":1,"featured_media":547314,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[244,93,72,281],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-electricity","tag-energy","tag-enterpriseam","tag-moustafa-madbouly","wpautop","entry"],"acf":{"mongo_id":"6738af87-afde-4aee-befb-5234cb2ccc14","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/electricity-energy.jpg","photo_position":"above","related_issue":[547300],"teaser":"","voice_url":""},"yoast_head":"\nNo electricity price hike before 2023 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/16\/no-electricity-price-hike-before-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No electricity price hike before 2023\" \/>\n<meta property=\"og:description\" content=\"Electricity prices for residential consumers will remain unchanged until at least the end of 2022, Prime Minister Moustafa Madbouly said during a presser following cabinet\u2019s weekly meeting (watch, runtime: 16:38). 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With a projected energy subsidy bill next year of around EGP 140 bn \u2014 of which EGP 110 bn are earmarked for petroleum products and EGP 30 bn for electricity \u2014 the government\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599153,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/19\/pm-discusses-operating-siemens-power-plants-offer-with-edra-official\/","url_meta":{"origin":547313,"position":3},"title":"PM discusses operating Siemens power plants offer with Edra official","author":"enterpriseam admin","date":"19 June 2019","format":false,"excerpt":"Prime Minister Moustafa Madbouly discussed Malaysia\u2019s Edra Power Holdings\u2019 offer to take over one of Siemens\u2019 newly built power plants with the company\u2019s President and Executive Director Datuk Wira Mark Ling, the cabinet said in a statement. 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