{"id":592214,"date":"2023-08-02T00:00:00","date_gmt":"2023-08-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/02\/day-1-of-the-blackout-schedule-didnt-go-to-plan\/"},"modified":"2023-08-02T00:00:00","modified_gmt":"2023-08-02T00:00:00","slug":"day-1-of-the-blackout-schedule-didnt-go-to-plan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/02\/day-1-of-the-blackout-schedule-didnt-go-to-plan\/","title":{"rendered":"Day 1 of the blackout schedule didn\u2019t go to plan"},"content":{"rendered":"

Good morning, wonderful people<\/strong>, and happy Wednesday. The ongoing power crisis is top of mind for us this morning as we contemplate when to take the elevator or the stairs at home and at work. Broadly speaking, though, things have been better in the past 48 hours than they were in the two days before that. <\/p>\n

It\u2019s Day 2 of the nationwide blackout schedule and it\u2019s safe to say there have been a <\/strong> few teething problems:<\/strong> The first day of the government\u2019s new system for organizing the ongoing rolling blackouts didn\u2019t appear to go plan, according to what Lamees El Hadidi reported on the airwaves last night. Only a few areas around the country saw blackouts take place on schedule, with some reporting unexpected power cuts, others saying the blackouts lasted longer than an hour, and others still having had no cuts at all. Head to our talk show section below, for more. <\/p>\n

<\/a> GOOD NEWS- Our first shipment of mazut has arrived:<\/strong> The Electricity Ministry on Sunday received 35k tons of imported mazut to help fire the national electricity grid, a source at the ministry told us yesterday. That shipment has, together with a parcel of power-saving measures, allowed the Madbouly government to dial-down power cuts, our source said. The news was first picked up by Al Mal<\/a>. <\/p>\n

Remember: <\/strong> The shipment is the first of the government\u2019s planned imports of the heavy oil so that it can ramp-up generation capacity to meet spiking demand. Prime Minister Moustafa Madbouly said last week that the government would spend USD 250-300 mn by the end of August on importing new supplies of mazut as part of a group of measures<\/a> aimed at ending the power crisis. The state had stopped importing<\/a> the heavy oil in March thinking that it could rely on local production during the summer and not anticipating the prolonged heat wave seen over the past weeks. <\/p>\n

Gulf oil coming? <\/strong> The government has contracted with an unspecified Gulf country to source more supplies of mazut, according to Al Mal\u2019s sources. <\/p>\n

PSA #1- The mercury will peak at 37\u2103 during the day<\/strong> in the nation\u2019s capital, dropping to 25\u2103 overnight, the Egyptian Meteorological Authority said<\/a> yesterday . The 14-day forecast on our favourite weather app has the mercury at or above 40\u00b0C every day from tomorrow.<\/strong> <\/p>\n

PSA #2- <\/strong> New government app aims to attract foreign investors: <\/strong> Cabinet has launched an English-language mobile app to showcase government efforts to improve the business environment and attract foreign investment, according to a ca<\/a> binet<\/a> statement<\/a> yesterday. The app includes a guide to the Golden License system, as well as a section listing economic indicators, including growth rates, employment, and inflation. Get it here: iOS<\/a> | Android<\/a>. <\/p>\n

HAPPENING TOMORROW-<\/strong> <\/p>\n

<\/a> PMI:<\/strong> S&P Global will publish its purchasing managers\u2019 index for Egypt tomorrow<\/strong>. The non-oil private sector contracted at its slowest rate in 22 months in June<\/a> amid signs at the time that inflationary pressures could be easing. <\/p>\n

<\/a> Interest rates:<\/strong> The Central Bank of Egypt is meeting tomorrow<\/strong> to discuss interest rates. All seven analysts and economists we spoke to<\/a> think the CBE\u2019s Monetary Policy Committee will keep rates on hold for a third consecutive meeting; some of those polled expect a a devaluation later this year. A Reuters poll<\/a> also forecasts rates to remain unchanged. <\/p>\n

<\/a> National Dialogue:<\/strong> Participants at the National Dialogue will discuss a draft law<\/a> establishing a new council<\/a> for education and training and post-divorce issues. <\/p>\n

IT\u2019S A NEW MONTH:<\/strong> Other news triggers triggers to watch out for over the coming days: <\/p>\n