{"id":651204,"date":"2017-02-07T04:12:54","date_gmt":"2017-02-07T04:12:54","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/electricity-prices-set-to-increase-in-july\/"},"modified":"2017-02-07T04:12:54","modified_gmt":"2017-02-07T04:12:54","slug":"electricity-prices-set-to-increase-in-july","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/electricity-prices-set-to-increase-in-july\/","title":{"rendered":"Electricity prices set to increase in July"},"content":{"rendered":"

<\/a> We\u2019re all going to start paying more for electricity come July:<\/strong> The Electricity Ministry is repricing electricity following the increase in fuel prices as a result of the EGP flotation, ministry spokesman Ayman Hamza told Al Shorouk<\/a>, without providing details on the new pricing formula. The move comes as the Ismail government is under pressure to show the IMF it is making progress on the reforms to which it has committed as conditions of obtaining a USD 12 bn extended fund facility. A delegation from the IMF is in town now as a prelude to the disbursement of the second tranche.<\/p>\n

Last February, the ministry had announced an ambitious <\/strong>five-year plan<\/strong><\/a> to eliminate power subsidies by 2025<\/strong>, and the IMF staff report released last month on Egypt\u2019s USD 12 bn bailout noted<\/a> that the Ismail government is committed to completely lifting electricity subsidies over the next five years. The Electricity Ministry last hiked<\/a> electricity prices in August 2016 for residential and commercial consumption as production costs increased and would have exacerbated the burden of subsidies (which rose to EGP 60 bn following the EGP float in November) if consumer prices were not raised in step.<\/p>\n

Meanwhile, citizens who were removed from the smart card subsidy system are (expectedly) outraged<\/strong> and are claiming that their welfare access was unlawfully revoked, Al Shorouk<\/a> reports. As we noted yesterday<\/a>, the Supply Ministry purged 1.2 mn welfare cheats from the country\u2019s smart card subsidy system in the first phase of a large clampdown on Kramers.<\/p>\n","protected":false},"excerpt":{"rendered":"

We\u2019re all going to start paying more for electricity come July: The Electricity Ministry is repricing electricity following the increase in fuel prices as a result of the EGP flotation, ministry spokesman Ayman Hamza told Al Shorouk, without providing details on the new pricing formula. The move comes as the Ismail government is under pressure […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-651204","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f6881213-f28c-4738-84f8-4fe2d3360bd7","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[651198],"teaser":"","voice_url":""},"yoast_head":"\nElectricity prices set to increase in July - 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\/2017\/02\/07\/electricity-prices-set-to-increase-in-july\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Electricity prices set to increase in July\" \/>\n<meta property=\"og:description\" content=\"We\u2019re all going to start paying more for electricity come July: The Electricity Ministry is repricing electricity following the increase in fuel prices as a result of the EGP flotation, ministry spokesman Ayman Hamza told Al Shorouk, without providing details on the new pricing formula. 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MPs are trying to\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":630597,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/finance-ministry-expects-inflation-rate-to-rise-in-july\/","url_meta":{"origin":651204,"position":2},"title":"Finance Ministry expects inflation rate to rise in July","author":"enterpriseam admin","date":"26 April 2018","format":false,"excerpt":"EXCLUSIVE- Finance Ministry expects inflation to \u201cslightly\u201d and temporarily rise in July: The inflation rate could increase fractionally in July due to \u201ca number of economic policies,\u201d Vice Minister of Finance Mohamed Maait told Enterprise on Tuesday. While Maait declined to get into specifics, our take is that he was\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":633505,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/16\/imf-is-in-discussion-with-the-new-cabinet-over-its-policies-for-the-years-to-come\/","url_meta":{"origin":651204,"position":3},"title":"IMF is in discussion with the new cabinet over its policies for the years to come","author":"enterpriseam admin","date":"16 July 2024","format":false,"excerpt":"The two sides are in discussion over monetary and financial policies, as well as policies related to public spending","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1186.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598171,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/cabinet-denies-reports-suggesting-egypts-home-electricity-prices-will-rise-30-60\/","url_meta":{"origin":651204,"position":4},"title":"Cabinet denies reports suggesting Egypt\u2019s home electricity prices will rise 30-60%","author":"enterpriseam admin","date":"16 May 2019","format":false,"excerpt":"Gov\u2019t (sort of) denies reports suggesting home electricity prices will rise 30-60%: The Madbouly Cabinet denied yesterday domestic press reports that emerged earlier this week quoting Electricity Ministry officials as suggesting that residential electricity prices could increase by 30-60% after the next round of subsidy cuts. 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":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":651204,"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%. 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