{"id":669485,"date":"2025-08-04T00:00:00","date_gmt":"2025-08-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/04\/will-electricity-subsidies-be-a-thing-of-the-past-by-the-summer-of-29\/"},"modified":"2025-08-04T00:00:00","modified_gmt":"2025-08-04T00:00:00","slug":"will-electricity-subsidies-be-a-thing-of-the-past-by-the-summer-of-29","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/04\/will-electricity-subsidies-be-a-thing-of-the-past-by-the-summer-of-29\/","title":{"rendered":"Will electricity subsidies be a thing of the past by the summer of \u201829?"},"content":{"rendered":"

No <\/strong>more electricity subsidies by<\/strong> FY 2028-2029?<\/strong> The Madbouly government plans to gradually bring electricity subsidies down to zero by the fiscal year 2028-2029, a senior government official told EnterpriseAM yesterday. <\/p>\n

It\u2019s all about curbing public expenditures: <\/strong>While the big-ticket item in this year\u2019s budget is debt service, successive cabinets have worked to curb the impact of energy subsidies that many in the private sector have called \u201cruinous\u201d in the past. It\u2019s not difficult to draw a direct line between energy subsidies and the six-year half-life of the EGP. <\/p>\n

The aim here: <\/strong>Free up funds previously earmarked for petroleum and electricity subsidies and channel the money back into \u201ctargeted social programs,\u201d the official said. <\/p>\n

It\u2019s about a \u201ctransformation of the whole [energy] sector,\u201d <\/strong>a senior government official involved in the electricity industry tells us. The big change involves getting the cost of subsidies off the state\u2019s tab and onto the shoulders of those who use the most electricity. It\u2019s what the government is calling a \u201ccross-subsidy mechanism\u201d that will see heavy users of electricity effectively subsidizing low-intensity users. <\/p>\n

BACKGROUND- <\/strong>The government's long-term vision, launched last year, includes incremental price increases over a five-year period, one of our sources said.<\/p>\n

Could this help lure more investment into the electricity sector? <\/strong>Officials are optimistic that the phase-out of subsidies, alongside improved economic conditions, and a stronger exchange rate, will eventually attract new capital to the industry.<\/p>\n

Energy subsidies are going to cost EGP 150 bn this year: <\/strong>The government plans to spend<\/a> EGP 75 bn on electricity subsidies this fiscal year and another EGP 75 bn on petroleum subsidies. That\u2019s a big shift in emphasis compared to last year, when it allocated EGP 154.5 bn to petroleum subsidies and only EGP 2.5 bn for electricity, according to Finance Ministry data (pdf)<\/a>.<\/p>\n

Looking ahead:<\/strong> The IMF expects<\/a> spending on electricity subsidies to drop to EGP 45 bn in FY 2026-2027, before gradually increasing to EGP 50 bn in the subsequent fiscal year, to EGP 56 bn in FY 2028-2029, and finally to EGP 63 bn in FY 2029-2030.<\/p>\n

The electricity sector reached a no-subsidy point in FY 2020-2021<\/strong>, with the state budget support for subsidies entirely eliminated after years of gradual cuts, according to our source and data (pdf)<\/a> from the Finance Ministry. That didn\u2019t last long after global tension caused exchange rate instability and spiked petroleum and natural gas prices, our source said. This created new financial burdens, pushing the state to intervene to absorb this price shock.<\/p>\n

Last fiscal year\u2019s electricity price hikes brought in EGP 15-20 bn in revenues<\/strong>, the electricity sector source noted. However, he said that high inflation has prevented the government from raising electricity prices in July as scheduled, with the state looking to curb rising prices and alleviate financial and social burdens on citizens.<\/p>\n

The government already is <\/strong>looking<\/a><\/strong> into postponing electricity price hikes until January <\/strong>202<\/strong>6<\/strong>, a government source told us last week. This is one of three potential scenarios for electricity price increases \u2014 the other two are implementing the increases this month or postponing them until September. The Electricity Ministry raised<\/a> electricity prices by 14-40% between August and September 2024. <\/p>\n

THE OUTLOOK <\/p>\n

Energy subsidies are projected to jump to EGP 180 bn in FY 2027-2028<\/strong>, and further climb to EGP 190 bn in FY 2028-2029, before dropping to EGP 166 bn in FY 2029-2030, the IMF recently said.<\/p>\n

Beyond electricity, fuel price hikes are unlikely before late September\/early October: <\/strong>No fuel increases are expected before the fuel pricing committee meets in late September or early October, another government source told us. A potential increase will hinge on the exchange rate, global oil prices, and demand. However, the source does not expect a significant increase, as not much remains to be recovered in terms of cost, especially if the exchange rate drops and global prices hold steady.<\/p>\n

REMEMBER-<\/strong> The government hiked<\/a> fuel prices at the pumps in April for the first time in 2025, raising fuel prices by 11.8-14.8%.<\/p>\n

Prime Minister Moustafa Madbouly reiterated in <\/strong>March<\/a><\/strong> Egypt\u2019s intention to have energy <\/strong>prices be at break-even by the end of the year.<\/strong> Despite ongoing efforts to reform its subsidy system, the government still spends EGP 366 mn per day and EGP 11 bn a month on fuel subsidies, according to the Oil Ministry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Electricity subsidies for the current fiscal year stand at EGP 75 bn<\/p>\n","protected":false},"author":1,"featured_media":669486,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[244,93,72,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-669485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-electricity","tag-energy","tag-enterpriseam","tag-subsidies","wpautop","entry"],"acf":{"mongo_id":"9f7ce406-ee94-4bce-9f9c-a5ca380ba2c1","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/8\/81.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt intends full-phase out of electricity subsidies by the summer of 2029","related_issue":[669480],"teaser":"Electricity subsidies for the current fiscal year stand at EGP 75 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.b23783ca-b0b0-4636-9056-9fa3d1d6935f.mp3"},"yoast_head":"\nWill electricity subsidies be a thing of the past by the summer of \u201829? 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Electricity is and will continue to be subsidized by the state until the planned phase-out in 2025, Electricity Minister Mohamed Shaker was quoted as saying by Al Borsa yesterday. His comments came after Bloomberg Asharq reported that the government\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/358.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":650094,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/eehc-committee-wants-to-extend-lifting-of-electricity-subsidies\/","url_meta":{"origin":669485,"position":2},"title":"EEHC committee wants to extend lifting of electricity subsidies","author":"enterpriseam admin","date":"16 March 2017","format":false,"excerpt":"In other energy news this morning, the state electricity utility is pushing back on the schedule for the phase-out of subsidies, but will still hike prices by as much as 40% in July. The Egyptian Electricity Holding Company (EEHC) committee tasked with studying new electricity prices for FY2017-18 is set\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":630075,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/govt-to-cut-fuel-subsidies-increase-food-subsidies-in-fy2018-19\/","url_meta":{"origin":669485,"position":3},"title":"Gov\u2019t to cut fuel subsidies, increase food subsidies in FY2018-19","author":"enterpriseam admin","date":"11 April 2018","format":false,"excerpt":"BUDGET WATCH- More food subsidies, less spent on energy in FY2018-19: The government aims to reduce fuel subsidies by about 26% y-o-y to EGP 89.08 bn in FY2018-19, according to a government document referenced by Reuters. The budget also reduces electricity subsidies by almost half to EGP 16 bn from\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":646219,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/08\/fuel-subsidies-in-fy2017-18-budget-remain-unchanged-maait\/","url_meta":{"origin":669485,"position":4},"title":"Fuel subsidies in FY2017-18 budget remain unchanged -Maait","author":"enterpriseam admin","date":"8 June 2017","format":false,"excerpt":"Fuel subsidies in the FY2017-18 budget have not changed: The amounts earmarked for energy subsidies in the FY2017-18 budget have not changed since the original announcement last month, Vice Minister of Finance Mohamed Maait said on Wednesday, according to Al Mal. The budget allocates EGP 140 bn to energy subsidies,\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":601255,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/government-to-raise-electricity-prices-next-july\/","url_meta":{"origin":669485,"position":5},"title":"Government to raise electricity prices next July","author":"enterpriseam admin","date":"24 February 2019","format":false,"excerpt":"Reminder: Electricity prices are going up again in July: Electricity Minister Mohamed Shaker reminded the House Energy and Environment committee that the government plans to raise electricity prices in July, the local press reports. A government official told us earlier this month that the state spending on subsidies is going\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/669485","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=669485"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/669485\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/669480"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/669486"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=669485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=669485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=669485"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=669485"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=669485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}