{"id":621033,"date":"2024-05-30T00:00:00","date_gmt":"2024-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/electricity-prices-to-rise-in-july\/"},"modified":"2024-05-30T00:00:00","modified_gmt":"2024-05-30T00:00:00","slug":"electricity-prices-to-rise-in-july","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/electricity-prices-to-rise-in-july\/","title":{"rendered":"Electricity prices to rise in July"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Electricity bills will rise this summer:<\/strong> The government will hike electricity prices in July with the beginning of the new fiscal year, a government source told Enterprise yesterday. The percentage increase will depend on each household or business\u2019 consumption, with the lowest consumption segments seeing the smallest jump in prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How much are we talking?<\/strong> On average, the hikes will exceed 20%, but studies and discussions are still underway to determine the new prices, the source said, adding that studies are also underway regarding the price of electricity for factories and other industries.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aligned to the IMF agreement: <\/strong>The Madbouly government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72695007-0bdb-4085-b04c-093acab38347\/%253cmark%253e%253c%2Fmark%253ewe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ecould%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ereceive%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethe%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253esecond%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253etranche%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eof%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eour%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eimf%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eloan%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ejune%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">has committed<\/a> to continue reducing energy subsidies and \u201cto better target the resources that are going to households which need additional income support,\u201d under its expanded loan agreement with the IMF.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And part of the state\u2019s privatization push: <\/strong>Cutting down on electricity subsidies is part of the state\u2019s efforts to attract more private sector investments into the electricity sector, the source added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Madbouly let us know this was coming: <\/strong>The news follows <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144e0e2f-276a-429d-a414-0b2427177e53\/egypt%25e2%2580%2599s-madbouly-hints-at-pricier-bread,-fuel,-electricity\" style=\"\" rel=\"noopener\">statements<\/a> from Prime Minister Moustafa Madbouly on Monday that hinted at the government raising the prices of electricity. He said Electricity Minister Mohamed Shaker will prepare a plan as to how the government can completely cut its spending on electricity subsidies over the coming four years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The cost of electricity production has soared<\/strong>, becoming more of a burden on the state budget, especially after a dip in domestic natural gas production <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\" style=\"\" rel=\"noopener\">pushed the country<\/a> from being a net exporter to a net importer of LNG in the recent months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Electricity subsidies are on the way out: <\/strong>The Madbouly government in 2020 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78b3ac0c-8571-47a4-802c-abf1b65a5044\" style=\"\" rel=\"noopener\">laid out a<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/78b3ac0c-8571-47a4-802c-abf1b65a5044\" style=\"\" rel=\"noopener\">roadmap<\/a> to phase out subsidies by 2025 \u2014 pushing back an existing July 2022 deadline that was already an extension of a 2019 deadline penciled in way back in 2014.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The Electricity Ministry last <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6468a17b-84c3-4eff-be44-5ad1a59c8a21\/electricity-ministry-hikes%253cmark%253e-electricity-prices%253c%2Fmark%253e-by-up-to-26%2525\" style=\"\" rel=\"noopener\">hiked prices in January<\/a>, pushing electricity prices for households and businesses up 16-26%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On average, the hikes will exceed 20%, but studies and discussions are still underway to determine the new prices<\/p>\n","protected":false},"author":1,"featured_media":621034,"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":[244,770,93,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-electricity","tag-electricity-ministry","tag-energy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"accde3e4-3b87-4093-b9b3-cbbc33b69f4b","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2505.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The Egyptian government is set to hike electricity prices in July","related_issue":[621026],"teaser":"On average, the hikes will exceed 20%, but studies and discussions are still underway to determine the new prices","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.41af003a-5d06-4458-ab31-a7e56d7a4ad0.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Businesses in the medium, high, and ultra-high consumption tiers\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/204.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572033,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/egypt-what-to-expect-with-the-electricity-price-hikes-coming-in-july\/","url_meta":{"origin":621033,"position":1},"title":"Egypt: What to expect with the electricity price hikes coming in July","author":"enterpriseam admin","date":"9 June 2020","format":false,"excerpt":"What to expect from the electricity price hikes to be announced today: Electricity Minister Mohamed Shaker has floated two different proposals to the Egyptian Electric Utility and Consumer Protection Agency\u2019s (Egyptera) board of directors for a hike in electricity prices expected to take effect on 1 July, the local press\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/94.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547231,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/14\/not-shocking\/","url_meta":{"origin":621033,"position":2},"title":"Not shocking","author":"enterpriseam admin","date":"14 June 2022","format":false,"excerpt":"No electricity price hikes coming this July, after all: The Madbouly government will freeze electricity prices to ease financial pressure on the public, which is already coping with high inflation, President Abdel Fattah El Sisi said yesterday (watch, runtime: 3:41).Residential electricity bills were set to rise by as much as\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/sisi-electricity-1600x.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632237,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/06\/electricity-ministry-begins-holding-meetings-to-determine-the-new-electricity-prices\/","url_meta":{"origin":621033,"position":3},"title":"Electricity Ministry begins holding meetings to determine the new electricity prices","author":"enterpriseam admin","date":"6 February 2018","format":false,"excerpt":"Electricity prices to rise in July, all consumption \/ income tiers to be hit; no imminent fuel price hikes -Oil Ministry. The Electricity Ministry is actively working on new electricity prices set to come into effect in July, said minister Mohamed Shaker, according to Al Borsa. He appeared to imply\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":640163,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/21\/govt-to-hike-industrial-electricity-prices-this-month\/","url_meta":{"origin":621033,"position":4},"title":"Gov\u2019t to hike industrial electricity prices this month","author":"enterpriseam admin","date":"21 August 2024","format":false,"excerpt":"Low-consumption industries will reportedly avoid electricity tariff hikes","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1840.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":629146,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/23\/electricity-ministry-to-recommend-power-prices-rise-up-to-55-in-july-stay-tuned-for-political-theatre\/","url_meta":{"origin":621033,"position":5},"title":"Electricity Ministry to recommend power prices rise up to 55% in July; stay tuned for political theatre","author":"enterpriseam admin","date":"23 May 2018","format":false,"excerpt":"Electricity prices set to rise by as much as 55% come July? Speculation about how far electricity prices will rise in July has kicked into overdrive, with ministry sources telling Al Mal that its final recommendation to cabinet is for prices to rise 33-55%. Previous reports had suggested that the\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621033","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=621033"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621033\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/621026"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/621034"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=621033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=621033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=621033"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=621033"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=621033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}