{"id":626175,"date":"2024-06-26T00:00:00","date_gmt":"2024-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1-2-bn-set-aside-for-energy-imports-and-other-initiatives\/"},"modified":"2024-06-26T00:00:00","modified_gmt":"2024-06-26T00:00:00","slug":"government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1-2-bn-set-aside-for-energy-imports-and-other-initiatives","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/26\/government-pledges-to-end-power-cuts-by-third-week-of-july-with-usd-1-2-bn-set-aside-for-energy-imports-and-other-initiatives\/","title":{"rendered":"Government pledges to end power cuts by third week of July with USD 1.2 bn set aside for energy imports and other initiatives"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The government says it has a plan to put an end to power cuts this summer:<\/strong> Prime Minister Mostafa Madbouly delivered a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid06tzNDQhfmcHARHm1NzApQFa1FS7kh4g4JiMxqa8cPPFBjuG7iZuQfUeNx2VF923nl\" style=\"\" rel=\"noopener\">televised statement<\/a> to apologize to the people and lay out a plan to end power cuts for the summer months and eventually do away with them for good yesterday. Madbouly\u2019s interjection follows the build-up of public frustration and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ecdbc47c-bd17-416c-9bd4-a6f86eaf3ae7\/frustration-and-anger-over-increased%253cmark%253e-power%253c%2Fmark%253e-outages-dominated-the-airwaves-for-the-second-consecutive-night\" style=\"\" rel=\"noopener\">anger on the airwaves<\/a> against the extension of load shedding by an \u201cextra hour\u201d on top of the already allotted two-hour outages until the end of the week that saw some areas reporting outages of five or more hours per day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Say goodbye to power cuts by July: <\/strong>Madbouly penciled in the third week of July as when the country will be ready to \u201cstop cutting electricity completely throughout the summer period.\u201d However, Madbouly clarified that the current \u201cone hour\u201d extension will continue as planned until the end of the week and that power cuts will resume after the summer months until the end of year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government thinks part of the solution is to spend its way out of the problem:<\/strong> Madbouly laid out a USD 1 bn plan to import fuel to power energy plants till the end of the year, in addition to USD 180 mn to import 300 tons of mazut next week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s also not just a supply-side issue: <\/strong>Alongside upping supply, the government wants to lessen energy demand by closing all shops and malls \u2014 with the exception of supermarkets, restaurants, and pharmacies \u2014 by 10pm. Restaurants will be allowed to run until 1am.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>You at home can also play a role in getting the lights back on: <\/strong>Madbouly also turned to people at home to help out by rationalizing energy use. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government is also working to spread out power cuts more fairly: <\/strong>President Abdel Fattah El Sisi has directed the government to fairly distribute power cuts among the nation\u2019s populace alongside its efforts to reduce powercuts overall, and instructed the government to work to end the problem as soon as possible, an unnamed government source reportedly told <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/extranewstv\/posts\/pfbid0RQR5oRzUiHetXTzSeugRhYvQjdt1jkSvg12h9da4Bgk24jyXMkcK322wDzaJPAMyl\" style=\"\" rel=\"noopener\">Extra News<\/a> prior to Madbouly\u2019s presser.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The surprise week-long extension of additional outages this week came as a result of a<\/strong><strong> gas field in a \u201cneighboring country\u201d being offline for a 12-hour period,<\/strong> Madbouly said, without specifying the country.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>The notoriously energy-intensive fertilizer industry in particular has been having a rough time:<\/strong> High temperatures, increasing electricity consumption prices, and cuts to the regional gas supply have led Abu Qir Fertilizers to cease natural gas supplies to its plants \u201cuntil improvement in the operating conditions of the network,\u201d the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1579.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. Sidi Kerir Petrochemicals also announced a total shutdown of operations in its plants due to a \u201clack of feed gasses,\u201d it said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1616.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a> to the bourse.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>But supplies to the industry should be back to normal by the end of the week: <\/strong>With temperatures expected to soon start cooling, gas supplies to fertilizer factories should be back to normal levels by the end of the week, an Oil Ministry official told Enterprise.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>The newly-arrived LNG regasification unit should also be up and running soon:<\/strong> Supply-side pressures should ease once the LNG regasification unit in the Gulf of Suez comes online within days as it will speed up the process of regasifying and pumping LNG shipments to industries and power plants, the Oil Ministry source added. Another government source confirmed that Egypt will also be welcoming mazut shipments from KSA.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>Just in time: <\/strong>State gas firm EGAS is reportedly looking to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/d00163c6-857e-411a-b537-a369671e23a3\/egypt-eyes-17-lng-shipments-over-the-next-three-months-in-its-biggest-tender-in-years\" style=\"\" rel=\"noopener\">acquire<\/a> seven shipments of LNG cargoes in July, six more in August, and four more in September in a tender that closes today, in what is set to be its largest shipment of LNG in years.<\/p>\n<p style=\"border-right-style:solid;border-top-width:0pt;border-left-style:solid;orphans:2;text-align:left;padding:0;margin:0;border-right-width:0pt;line-height:1.15;border-left-width:0pt;border-top-style:solid;border-bottom-width:0pt;border-bottom-style:solid;widows:2\"><strong>The international press also got a hold of the story: <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/egypt-needs-import-118-billion-fuel-end-power-cuts-pm-says-2024-06-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-25\/egypt-plans-1-2-billion-of-energy-imports-to-end-power-cuts\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Madbouly penciled in the third week of July as when the country will be ready to \u201cstop cutting electricity completely throughout the summer period\u201d<\/p>\n","protected":false},"author":1,"featured_media":626176,"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":[244,93,72,99,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-electricity","tag-energy","tag-enterpriseam","tag-fertilizers","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"454b221a-69a5-4435-864e-86f3fc55f90e","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1639.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian government pledges to end power cuts by third week of July with USD 1.2 bn set aside for energy imports and other initiatives","related_issue":[626170],"teaser":"Madbouly penciled in the third week of July as when the country will be ready to \u201cstop cutting electricity completely throughout the summer period\u201d","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.4ed4e283-b6fe-493d-9677-e290f9f13ce7.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Government pledges to end power cuts by third week of July with USD 1.2 bn set aside for energy imports and other initiatives - 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\" 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