{"id":548556,"date":"2022-08-14T04:00:25","date_gmt":"2022-08-14T04:00:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/14\/electricity-rationing-went-into-effect-yesterday-across-egypt-heres-what-we-know-so-far\/"},"modified":"2022-08-14T04:00:25","modified_gmt":"2022-08-14T04:00:25","slug":"electricity-rationing-went-into-effect-yesterday-across-egypt-heres-what-we-know-so-far","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/14\/electricity-rationing-went-into-effect-yesterday-across-egypt-heres-what-we-know-so-far\/","title":{"rendered":"Electricity rationing went into effect yesterday across Egypt. Here\u2019s what we know so far."},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Here\u2019s how the gov\u2019t hopes to ration the nation\u2019s electricity:<\/strong> Cabinet has approved <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8825220-3a11-4b4f-85d0-10a069902e3a\">measures announc<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8825220-3a11-4b4f-85d0-10a069902e3a\">ed by<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8825220-3a11-4b4f-85d0-10a069902e3a\">Prime Minister Moustafa Madbouly<\/a> last week to limit the country\u2019s use of electricity, raise natural gas exports, and increase inflows of foreign currency, according to <a href=\"https:\/\/tinyurl.com\/yht2mm4m\">a statement<\/a> out Thursday.<\/p>\n<p><strong>Under the rules:<\/strong><\/p>\n<ul>\n<li><strong>All state-affiliated buildings must cut their electricity consumption during working hours, <\/strong>though we don\u2019t yet know if they\u2019ll be asked to cut their use by a specific amount. That means national and local government buildings and agencies, as well as state-owned companies. All indoor and outdoor lighting must be shut off outside of working hours. <\/li>\n<li><strong>Authorities have been instructed to keep a closer eye to make sure businesses including restaurants and cafes stick to <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e3019f4c-6803-4c38-a95f-5dfdeaf7a35b\">summer retail hours<\/a><\/strong>, meaning they should shut down at 11pm on weekdays.<\/li>\n<li><strong>Local administrations and new city authorities are responsible for reducing lighting on the streets<\/strong> and in public squares.<\/li>\n<\/ul>\n<ul>\n<li><strong>A\/C in malls cannot be set lower than 25\u00b0C. <\/strong>Storefronts must reduce \u201cbright lighting,\u201d though the statement doesn\u2019t say by how much. Local authorities will be responsible for enforcing the changes.<\/li>\n<\/ul>\n<ul>\n<li><strong>Sports facilities (stadiums, clubs, and gyms) should hold events in daylight as far as possible, <\/strong>and must turn off their lights once evening events are over. They\u2019ll also need to reduce overall consumption, though it\u2019s not specified by how much. The Youth and Sports Ministry will oversee this aspect of the cuts.<\/li>\n<li><strong>The Supreme Council for Media Regulation (SCMR) will launch a campaign to raise awareness<\/strong> about why we\u2019re doing all this. <\/li>\n<\/ul>\n<p><strong>The measures came into effect on Saturday<\/strong>, cabinet spokesperson Nader Saad said (<a href=\"https:\/\/www.youtube.com\/watch?v=NGBUmxY7EzA\">watch, runtime: 09:01<\/a>).<\/p>\n<p><strong>There\u2019s no word yet on the return of daylight saving time<\/strong>, a measure we scrapped in 2016 after changing the clocks four times. Reports last week said cabinet was considering bringing it back as early as next year.<\/p>\n<p><strong>REMEMBER-<\/strong> The government hopes to export around 15% of the gas that is currently allocated to the nation\u2019s power stations, netting itself an extra <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84e9a8da-4890-44f7-b670-430e119b0328\">USD 450 mn a month in revenues<\/a>. The idea is to bring in some extra FX liquidity by taking advantage of current demand for LNG, particularly in European markets, where countries are looking to plug the gap in their energy mix left by the abrupt exit of Russian gas.<\/p>\n<p><strong>Why do we need FX? <\/strong>The spike in commodities prices, rising interest rates, and a sell-off in emerging markets have caused Egypt\u2019s foreign reserves to decline 20% since March and hit FX liquidity in the banking system. That\u2019s all putting pressure on the EGP, which has slipped almost 22% since March.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here\u2019s how the gov\u2019t hopes to ration the nation\u2019s electricity: Cabinet has approved measures announced byPrime Minister Moustafa Madbouly last week to limit the country\u2019s use of electricity, raise natural gas exports, and increase inflows of foreign currency, according to a statement out Thursday. Under the rules: All state-affiliated buildings must cut their electricity consumption [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":548557,"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":[7206],"tags":[104,244,93,72,655,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-electricity","tag-energy","tag-enterpriseam","tag-foreign-reserves","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"34592f12-233d-4901-ae0a-b210c9ca855e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/231.jpg","photo_position":"above","related_issue":[548548],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Electricity rationing went into effect yesterday across Egypt. 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