{"id":643378,"date":"2024-09-08T00:00:00","date_gmt":"2024-09-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/08\/our-long-awaited-electricity-rate-hikes-are-here-capping-off-a-busy-summer-of-subsidy-reform\/"},"modified":"2024-09-08T00:00:00","modified_gmt":"2024-09-08T00:00:00","slug":"our-long-awaited-electricity-rate-hikes-are-here-capping-off-a-busy-summer-of-subsidy-reform","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/08\/our-long-awaited-electricity-rate-hikes-are-here-capping-off-a-busy-summer-of-subsidy-reform\/","title":{"rendered":"Our long-awaited electricity rate hikes are here, capping off a busy summer of subsidy reform"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"> <strong>Your electricity bill for August just went up: <\/strong>The Electricity Ministry has finally put out its <a target=\"_blank\" href=\"https:\/\/egyptera.org\/ar\/TarrifAug2024.aspx\" style=\"\" rel=\"noopener\">revised electricity price hikes<\/a> for households, businesses, and the public sector. The new tariffs are broadly in line with what we expected based on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39d605cc-f8fe-4f7d-bcd8-3bc3d241fbce\" style=\"\" rel=\"noopener\">leaks<\/a> from within the government, and will see prices rise by 14-40% across the board, with the highest increases concentrated among higher consuming households.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>You may already be paying the higher rates: <\/strong>Those in higher consumption households using prepaid meters may have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39d605cc-f8fe-4f7d-bcd8-3bc3d241fbce\" style=\"\" rel=\"noopener\">already felt the pinch<\/a> of higher prices, while others will see the new rates reflected on their bills in September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>The new price tags per <\/strong><strong>kWh for ho<\/strong><strong>useholds-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>For a consumption less than or equal to 100 kWh\/month:<\/strong><\/p>\n<ul>\n<li>The first 0-50 kWh\/month will be charged EGP 0.68, up 17% from EGP 0.58.<\/li>\n<li>The next 51-100 kWh\/month at EGP 0.78, up 15% from EGP 0.68.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>For a consumption higher than 100 kWh\/month and less than or equal to 650 kWh\/month:<\/strong><\/p>\n<ul>\n<li>The first 0-200 kWh\/month at EGP 0.95, up 14% from EGP 0.83.<\/li>\n<li>The next 201-350 kWh\/month at EGP 1.55, up 24% from EGP 1.25.<\/li>\n<li>The next 351-650 kWh\/month at EGP 1.95, up 39% from EGP 1.40.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>For a consumption higher than 650 kWh\/month and less than or equal to 1k kWh\/month:<\/strong><\/p>\n<ul>\n<li>The tariff will be EGP 2.10 from the first kWh, up 40% from EGP 1.50.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>For a consumption higher than 1k kWh\/month<\/strong><\/p>\n<ul>\n<li>The tariff will be EGP 2.23 from the first kWh, up 35.2% from EGP 1.65.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>We\u2019ve been waiting for this shoe to drop for a while: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/accde3e4-3b87-4093-b9b3-cbbc33b69f4b\/%253cmark%253eelectricity-prices%253c%2Fmark%253e-to-rise-in-july\" style=\"\" rel=\"noopener\">announced in May<\/a> that electricity prices would be rising by an average of over 20% in July, after the last hike in January saw prices rise between 7-27% across all consumption categories. Those plans were put on ice in June, however, with an anonymous government official <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e71493a-fde3-4dfc-b0e9-286632532659\/%253cmark%253eelectricity%253c%2Fmark%253e-bill-hikes-put-on-hold-until-september--%253cmark%253eelectricity%253c%2Fmark%253e-ministry-source\" style=\"\" rel=\"noopener\">telling Enterprise<\/a> that the government was putting off the planned hike until the electricity crisis that had resulted in daily blackouts for much of the first part of the summer was resolved.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>The household hike structure is more progressive than the last go-around: <\/strong>As expected, this round of price hikes saw rates rise by a greater margin on the highest-paying tax brackets. This contrasts with <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\">January\u2019s price hikes<\/a>, which saw prices rise highest in the lowest kWh tier \u2014 by 20.8% \u2014 in contrast to the highest category, which saw a 13.8% hike.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>Still, this price increase will disproportionately hurt low-consumption households,<\/strong> who continue to be the most impacted by the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16c3fb51-a296-4592-9730-91e249e38266\/gov%25e2%2580%2599t-could-announce-its-biggest-social-support-package-to-date-in-september\" style=\"\" rel=\"noopener\">rising costs of subsidized goods<\/a> as the government looks toward <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/58546cd7-5ad9-49a6-a325-645b2cf769d9\/fresh-details-on-the-move-to-cash-based%253cmark%253e-subsidies%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">phasing out in-kind subsidies<\/a> in exchange for an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce01f29c-8a4e-43ba-ac77-91e06d5c9990\/imf-to-begin-fourth-loan-review-by-october-at-the-latest\" style=\"\" rel=\"noopener\">IMF-approved<\/a> cash-based subsidy regime.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>As promised, rates for industry went up as well: <\/strong>Rates for industry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee45065d-b89b-4a1c-b514-4fc6ee8e1870\/egyptian-gov%25e2%2580%2599t-to-hike-industrial-electricity-prices-this-month\" style=\"\" rel=\"noopener\">increased<\/a> to between EGP 1.74 and EGP 2.34 per kWh across high, medium, and low consumption industries, up from between EGP 1.10 and EGP 1.50 per kWh\/month listed previously as average prices..<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>Low-voltage <\/strong><strong>uses for industries were not spared price hikes, contra expectations: <\/strong>Despite <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee45065d-b89b-4a1c-b514-4fc6ee8e1870\/gov%25e2%2580%2599t-to-hike-industrial%253cmark%253e-electricity%253c%2Fmark%253e-prices-this-month\" style=\"\" rel=\"noopener\">prior<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ee45065d-b89b-4a1c-b514-4fc6ee8e1870\/gov%25e2%2580%2599t-to-hike-industrial%253cmark%253e-electricity%253c%2Fmark%253e-prices-this-month\" style=\"\" rel=\"noopener\">indications to the contrary<\/a>, tariffs on low-voltage uses for industries also increased in the most recent round of price hikes. Low-voltage energy uses for non-irrigation uses will see rates rise to EGP 2.34 kWh, up 56% from EGP 1.50. This comes after a government source told Enterprise that the state aimed to exempt low-voltage industries from price hikes due to the deleterious effect they could have on small- and medium-sized enterprises.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>The cost of electricity production has soared after float, 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 recent months.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>Our energy subsidies are being watched closely by the IMF: <\/strong>Adjusting energy prices is part of the structural reforms mandated by the International Monetary Fund under our USD 8 bn loan program in a bid to \u201ccreate space for more productive spending,\u201d the Fund said in a <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2024\/07\/29\/pr24293-egypt-imf-exec-board-completes-3rd-rev-extended-arr-eff\" style=\"\" rel=\"noopener\">statement<\/a> announcing the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b783a33c-54f4-403e-bbb3-d45168e55bab\" style=\"\" rel=\"noopener\">completion of the third loan review<\/a> in July. \u201cRestoring energy prices to their cost recovery levels, including retail fuel prices by December 2025, is essential to supporting the smooth provision of energy to the population and reducing imbalances in the sector,\u201d it said. The government is working on a <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\">plan to phase out electricity subsidies<\/a> over the course of the next four years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Those in the highest two consumption brackets will see their rates rise between 35-40%<\/p>\n","protected":false},"author":1,"featured_media":643379,"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":[244,770,93,72,272,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-electricity","tag-electricity-ministry","tag-energy","tag-enterpriseam","tag-imf","tag-subsidies","wpautop","entry"],"acf":{"mongo_id":"502d7ed8-9571-460b-ad59-c01d2e26ff5c","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/477.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Our long-awaited electricity rate hikes are here, capping off a busy summer of subsidy reform","related_issue":[643370],"teaser":"Those in the highest two consumption brackets will see their rates rise between 35-40%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.c77bb4f7-06e2-47d8-a9b3-3609a9defc94.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>Our long-awaited electricity rate hikes are here, capping off a busy summer of subsidy reform - 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\/2024\/09\/08\/our-long-awaited-electricity-rate-hikes-are-here-capping-off-a-busy-summer-of-subsidy-reform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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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":640083,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/20\/households-are-already-being-charged-higher-electricity-prices-reports\/","url_meta":{"origin":643378,"position":1},"title":"Households are already being charged higher electricity prices -reports","author":"enterpriseam admin","date":"20 August 2024","format":false,"excerpt":"This marks the second round of electricity price increases this year, following earlier hikes in January","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\/1710.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598291,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/21\/egypts-industry-could-catch-a-break-from-high-electricity-prices-govt-to-announce-new-rates-in-days\/","url_meta":{"origin":643378,"position":2},"title":"Egypt\u2019s industry could catch a break from high electricity prices, gov\u2019t to announce new rates \u201cin days\u201d","author":"enterpriseam admin","date":"21 May 2019","format":false,"excerpt":"Manufacturers could catch a break as gov\u2019t looks set to announce new electricity prices for industry today: Industrial producers could see their electricity bills fall in the state\u2019s new fiscal year, which starts in July, government sources told the domestic press. 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":598121,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/home-electricity-prices-could-rise-30-60-in-july-as-egypt-phases-out-subsidies\/","url_meta":{"origin":643378,"position":3},"title":"Home electricity prices could rise 30-60% in July as Egypt phases out subsidies","author":"enterpriseam admin","date":"15 May 2019","format":false,"excerpt":"Residential electricity prices could increase by 30-60% after the next round of subsidy cuts that will take place at the start of the next fiscal year in July, Electricity Ministry officials tell Al Mal. All households and businesses will face a price hike with the potential exception of businesses in\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":547128,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/more-inflation-coming-our-way\/","url_meta":{"origin":643378,"position":4},"title":"More inflation coming our way","author":"enterpriseam admin","date":"9 June 2022","format":false,"excerpt":"Could household electricity bills rise from 1 July? Households could see their electricity bills rise by as much as 21% from 1 July, according to the government\u2019s 2020 schedule (pdf) to phase out subsidies by 2025. 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