{"id":603690,"date":"2023-08-20T00:00:00","date_gmt":"2023-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/electricity-prices-frozen-until-january-2024\/"},"modified":"2023-08-20T00:00:00","modified_gmt":"2023-08-20T00:00:00","slug":"electricity-prices-frozen-until-january-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/electricity-prices-frozen-until-january-2024\/","title":{"rendered":"Electricity prices frozen until January 2024"},"content":{"rendered":"

No change to household electricity prices for another 4.5 months: <\/strong>The Madbouly cabinet has approved a decision to leave household electricity prices frozen until 1 January, 2024, following a directive from President Abdel Fattah El Sisi, according to a c<\/a> abinet statemen<\/a> t<\/a>. The decision is part of an \u201cexceptional package of social protection\u201d measures aimed at easing financial pressures on the public, the statement reads. <\/p>\n

REMEMBER- Price hikes were due last month. <\/strong>The government in June 2022 fixed electric<\/a> ity prices<\/a> for a third time to protect households from the rising cost of living, a freeze that expired<\/a> at the end of FY 2022-2023 on 30 June. <\/p>\n

A pause on the plan to roll back subsidies: <\/strong> The government in 2020 laid out a roadmap to phase out subsidies by 2025. Had last year\u2019s hikes come into effect, some households would have seen their electricity bills rise by as much as 21%. <\/p>\n

The biggest consumers already foot their <\/strong> full <\/strong> electricity bills \u2014 and more: <\/strong>Subsidies were fully lifted for households that consume more than 650 KWh\/month in FY 2020-2021. These high-consumption households are charged a high markup on their electricity prices, which is used to subsidize low-income and low-consumption households.<\/p>\n

But subsidy reform remains a priority: <\/strong>The phase-out of various types of subsidies is a key pillar of the government\u2019s fiscal reform efforts. Winding down fuel subsidies is a condition<\/a> of our USD 3 bn loan program with the International Monetary fund (IMF).<\/p>\n

An ill-lit backdrop: <\/strong>The move comes as the country remains in the grip of a power crisis, with the government implementing a schedule of rolling blackouts<\/a> and other power-saving measures after a heatwave triggered a surge in electricity demand.<\/p>\n

The news got ink in the <\/strong> international <\/strong> business <\/strong> press: <\/strong>Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Household electricity prices had been set to go up on 1 July<\/p>\n","protected":false},"author":1,"featured_media":603691,"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":[282,104,244,770,93,72,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603690","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-cabinet-watch","tag-economy","tag-electricity","tag-electricity-ministry","tag-energy","tag-enterpriseam","tag-subsidies","wpautop","entry"],"acf":{"mongo_id":"e5cfef76-aa68-486f-a13a-cade675718c6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/20.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian gov\u2019t extends freeze on electricity prices until January 2024","related_issue":[603685],"teaser":"Household electricity prices had been set to go up on 1 July","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.e0285d29-d56d-4059-9ef1-c1487e1d6b90.mp3"},"yoast_head":"\nElectricity prices frozen until January 2024 - 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The government will enforce\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":598036,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/government-to-decide-on-new-electricity-rates-by-may-end\/","url_meta":{"origin":603690,"position":1},"title":"Government to decide on new electricity rates by May-end","author":"enterpriseam admin","date":"13 May 2019","format":false,"excerpt":"Government to decide on new electricity rates by the end of May: The Egyptian Electrical Utility and Consumer Protection Regulatory Agency (Egyptera) has completed scenario planning for a hike in residential electricity prices expected by the start of the government\u2019s next fiscal year starting in July, the local press reports.\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":568985,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/10\/shaker-unmoved-by-calls-to-cut-electricity-prices-for-egyptian-industry\/","url_meta":{"origin":603690,"position":2},"title":"Shaker unmoved by calls to cut electricity prices for Egyptian industry","author":"enterpriseam admin","date":"10 February 2020","format":false,"excerpt":"Shaker unmoved by calls to cut electricity prices for industry: Electricity Minister Mohamed Shaker rejected several proposals at a meeting with the House Industrial Committee on Sunday to slash electricity prices for factories, Ahram Online reports. 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