{"id":561985,"date":"2021-04-28T04:00:19","date_gmt":"2021-04-28T04:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/state-electric-companies-given-more-time-to-adjust-to-a-future-without-subsidies\/"},"modified":"2021-04-28T04:00:19","modified_gmt":"2021-04-28T04:00:19","slug":"state-electric-companies-given-more-time-to-adjust-to-a-future-without-subsidies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/state-electric-companies-given-more-time-to-adjust-to-a-future-without-subsidies\/","title":{"rendered":"State electric companies given more time to adjust to a future without subsidies"},"content":{"rendered":"

<\/a> The delay of the Egyptian Electricity Transmission Company\u2019s <\/strong>split<\/a><\/strong> from the<\/strong> Egyptian Electricity Holding Company (EEHC) until 2025 was approved in principle<\/strong> by the House of Representatives, Al Mal<\/a> reports. Under the new amendments to the 2015 Electricity Act, state-owned electricity production and distribution companies have more time to restructure their operations as the government phases out electricity subsidies over a longer period.<\/p>\n

Authorities had originally planned to end subsidies in 2022<\/strong>, but decided to push the date to 2025<\/a>. The amendments will still be considered in a final vote.<\/p>\n

OTHER LEGISLATION NEWS-<\/strong> Tahya Misr Fund will be exempt from all taxes and fees<\/strong> on its gains, loans and other lines of credit, under a bill approved during a plenary session yesterday, reports Youm7<\/a>. The bill excludes gains made by the fund through the holding of treasury bills and bonds, and also exempts the state-controlled fund from property registry fees and custom dues.<\/p>\n

The House separately approved extending the nationwide state of emergency<\/strong> for three months<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The delay of the Egyptian Electricity Transmission Company\u2019s split from the Egyptian Electricity Holding Company (EEHC) until 2025 was approved in principle by the House of Representatives, Al Mal reports. Under the new amendments to the 2015 Electricity Act, state-owned electricity production and distribution companies have more time to restructure their operations as the government […]<\/p>\n","protected":false},"author":1,"featured_media":561986,"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":[7344],"tags":[1401,72,274,187,3434,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-egyptian-electricity-holding-company","tag-enterpriseam","tag-house-of-representatives","tag-legislation-watch","tag-tahya-misr-fund","tag-tax","wpautop","entry"],"acf":{"mongo_id":"db3cf6c2-9e56-4cd4-8e2c-241de1f0368b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/296.jpg","photo_position":"above","related_issue":[561974],"teaser":"","voice_url":""},"yoast_head":"\nState electric companies given more time to adjust to a future without subsidies - 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\/04\/28\/state-electric-companies-given-more-time-to-adjust-to-a-future-without-subsidies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State electric companies given more time to adjust to a future without subsidies\" \/>\n<meta property=\"og:description\" content=\"The delay of the Egyptian Electricity Transmission Company\u2019s split from the Egyptian Electricity Holding Company (EEHC) until 2025 was approved in principle by the House of Representatives, Al Mal reports. 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Electricity subsidies haven\u2019t been phased out. Electricity is and will continue to be subsidized by the state until the planned phase-out in 2025, Electricity Minister Mohamed Shaker was quoted as saying by Al Borsa yesterday. His comments came after Bloomberg Asharq reported that the government\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\/4\/358.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563054,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/public-sector-wage-increase-signed-into-law\/","url_meta":{"origin":561985,"position":1},"title":"Public sector wage increase signed into law","author":"enterpriseam admin","date":"16 June 2021","format":false,"excerpt":"Next month\u2019s public sector wage hikes are now the law of the land: Legislation that raises basic salaries for public sector workers on 1 July has been ratified by President Abdel Fattah El Sisi, El Watan reports. 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The delay comes as a result of the government extending its timeline to withdraw electricity subsidies from 2022 until 2025, leaving electricity prices\u2026","rel":"","context":"In "PUBLIC SECTOR"","block_context":{"text":"PUBLIC SECTOR","link":"https:\/\/enterpriseam.com\/egypt\/category\/public-sector\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/129.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568601,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/28\/electricity-ministry-to-launch-tender-for-five-control-centers-across-the-country\/","url_meta":{"origin":561985,"position":4},"title":"Electricity Ministry to launch tender for five control centers across the country","author":"enterpriseam admin","date":"28 January 2020","format":false,"excerpt":"The Electricity Ministry will launch a tender for five power control centers in the Alexandria, Upper Egypt, Suez Canal and Greater Cairo areas 1Q2020, unnamed sources told Al Mal. 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