{"id":556552,"date":"2021-10-31T04:00:34","date_gmt":"2021-10-31T04:00:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/31\/factories-face-higher-utility-bills-as-govt-hikes-gas-prices\/"},"modified":"2021-10-31T04:00:34","modified_gmt":"2021-10-31T04:00:34","slug":"factories-face-higher-utility-bills-as-govt-hikes-gas-prices","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/31\/factories-face-higher-utility-bills-as-govt-hikes-gas-prices\/","title":{"rendered":"Factories face higher utility bills as gov\u2019t hikes gas prices"},"content":{"rendered":"

<\/a> The government has hiked gas prices for factories by up to 28%<\/strong>, according to a decision published in the Official Gazette<\/a> on Thursday, as global gas prices remain elevated. Cement, iron and steel, and petrochemicals and fertilizers producers will now pay USD 5.75 \/ mmBtu, up from USD 4.5 \/ mmBtu. Gas prices for other industries will rise 5.6% to USD 4.75 \/ mmBtu.<\/p>\n

The move more or less reverses pandemic-era cuts<\/strong> that lowered natgas prices<\/a> for industrial producers to USD 4.5 \/ mmBtu in a bid to increase exports and help firms withstand the covid-19 crisis. Before the cuts, cement companies were paying USD 6.00 \/ mmBtu, while metallurgy and ceramic manufacturers were paying USD 5.50 \/ mmBtu.<\/p>\n

The great gas rally:<\/strong> Global gas prices have surged this year amid rising post-lockdown demand in Asia and tightening supply. Prices in Europe and the UK have soared to record highs while Nymex futures have more than doubled to hit their highest levels since late 2008.<\/p>\n

The saving grace? Electricity prices will remain frozen for the foreseeable future<\/strong>, Vice Minister of Finance Ahmed Kouchouk told us recently<\/a>.<\/p>\n

Fuel prices at the pump have also been hiked three times this year<\/strong> as international oil and gas prices have risen. Car owners are now paying up to 12% more for fuel than they were at the beginning of the year after the government hiked the prices of all fuel grades by 0.75.<\/p>\n

\n

Taqa Arabia plans 6x increase in its s<\/strong>olar capacity<\/strong>:<\/strong> Qalaa Holdings\u2019 Taqa Arabia is looking to increase its solar energy capacity to 400-500 MW within five years from 70 MW currently, Qalaa Holdings\u2019 chairman Ahmed Heikal said at an industry event in Riyadh last week, according to a press release (pdf)<\/a>.<\/p>\n

Getting over the glut?<\/strong> This marks a departure from the company\u2019s strategy, announced last year, when Taqa had said it would be focusing<\/a> on small-scale solar projects to the tune of 2-10 MW in Egypt for the next two years amid an electricity glut that hit solar companies looking to invest in large scale projects. The company said earlier this year<\/a> that it would be building two solar facilities worth USD 4 mn in Somabay, that would produce a combined 5 MW of power. In late 2020, the company received<\/a> a USD 4.2 mn loan from the European Bank for Reconstruction and Development to fund a 6 MW photovoltaic solar plant supplying electricity to Dina Farms.<\/p>\n

EDITOR'S NOTE:<\/strong> This story was corrected on 2 November to reflect that the price hike for other industries is 5.6%, not 21% as we previously reported.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

The government has hiked gas prices for factories by up to 28%, according to a decision published in the Official Gazette on Thursday, as global gas prices remain elevated. Cement, iron and steel, and petrochemicals and fertilizers producers will now pay USD 5.75 \/ mmBtu, up from USD 4.5 \/ mmBtu. Gas prices for other […]<\/p>\n","protected":false},"author":1,"featured_media":556553,"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":[1002,93,72,99,91,705],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-cement","tag-energy","tag-enterpriseam","tag-fertilizers","tag-oil-and-gas","tag-petrochemicals","wpautop","entry"],"acf":{"mongo_id":"0a41ad6b-9141-4ceb-9c19-9cdb81e423f3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/322.jpg","photo_position":"above","related_issue":[556546],"teaser":"","voice_url":""},"yoast_head":"\nFactories face higher utility bills as gov\u2019t hikes gas prices - 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\/2021\/10\/31\/factories-face-higher-utility-bills-as-govt-hikes-gas-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Factories face higher utility bills as gov\u2019t hikes gas prices\" \/>\n<meta property=\"og:description\" content=\"The government has hiked gas prices for factories by up to 28%, according to a decision published in the Official Gazette on Thursday, as global gas prices remain elevated. 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Natural gas will now be sold to cement manufacturers at USD 12.00 per mmBtu, from USD 5.75 \/\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/187.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567432,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/22\/egypt-to-cut-gas-prices-for-factories-in-coming-fiscal-year-sources\/","url_meta":{"origin":556552,"position":1},"title":"Egypt to cut gas prices for factories in coming fiscal year -sources","author":"enterpriseam admin","date":"22 January 2020","format":false,"excerpt":"Egypt to cut gas prices for factories in coming fiscal year -sources: The government is studying several proposals that could cut gas prices for factories by another USD 1.5-2 per mn British thermal units, with the new prices expected to come into force at the beginning of the new fiscal\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":593191,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/20\/house-to-call-for-more-natgas-price-cuts-for-industry\/","url_meta":{"origin":556552,"position":2},"title":"House to call for more natgas price cuts for industry","author":"enterpriseam admin","date":"20 November 2019","format":false,"excerpt":"House to call for more natgas price cuts for industry: The House Industrial Committee will ask the government to cut natural gas prices by USD 1 to USD 4.5 \/ mmbtu for steel, aluminum, copper, ceramics, and porcelain factories, parliamentary sources say. The committee is planning to present this recommendation\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":574262,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/03\/industry-requests-another-cut-in-gas-prices-to-usd-3-5-mmbtu\/","url_meta":{"origin":556552,"position":3},"title":"Industry requests another cut in gas prices to USD 3.5\/mmbtu","author":"enterpriseam admin","date":"3 September 2020","format":false,"excerpt":"Industrial players still want to pay less for natural gas\u2026 Chemicals and fertilizer manufacturers are raising the issue of lowering gas prices once again, with Chemical and Fertilizers Export Council passing on a request to the Trade and Industry Ministry to lower the price of gas to USD 3.5\/mmbtu, Khaled\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\/2020\/9\/39.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569039,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/11\/egypts-cement-producers-still-unhappy-with-natgas-prices\/","url_meta":{"origin":556552,"position":4},"title":"Egypt\u2019s cement producers still unhappy with natgas prices","author":"enterpriseam admin","date":"11 February 2020","format":false,"excerpt":"Cement manufacturers will only go back to using natural gas if the government halves the price at which it sells it to their factories to USD 3 \/ MMBtu, head of the Federation of Egyptian Industries\u2019 cement division Medhat Estefanios tells Youm7. Coal will remain the more cost efficient energy\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555063,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-could-liberalize-gas-prices-for-factories-lebanon-gas-shipments-to-start-later-this-year\/","url_meta":{"origin":556552,"position":5},"title":"Egypt could liberalize gas prices for factories + Lebanon gas shipments to start later this year","author":"enterpriseam admin","date":"1 November 2021","format":false,"excerpt":"Factories could see the prices they pay for natural gas change every 3-4 months if the government follows through on proposals to liberalize the market announced by Oil Minister Tarek El Molla yesterday. Policymakers are considering extending the automatic pricing mechanism currently in place for petroleum products to gas supplied\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/269.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=556552"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556552\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556553"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556552"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556552"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}