Egypt Daily News – The Egyptian Ministry of Electricity raised electricity tariffs for the sale of kilowatt-hours, implementing this increase retroactive as of August 1st, 2024.
Officials from the Ministry, including those from the Egyptian Electricity Holding Company and the Electricity Utility and Consumer Protection Regulatory Authority, refrained from providing specific information on the changes, merely confirming that electricity prices had increased as of August 1st.
Individuals and consumers can expect the new prices to take effect in their upcoming bills, with distribution companies starting to collect payments based on the adjusted rates from August 22nd. Despite inquiries about the tariff adjustments, details remained undisclosed, and the last publicly noted tariff change was in January 2024.
The sources indicated that the anticipated revenue from the tariff increase for the current fiscal year could exceed 15 billion Egyptian pounds. Many subscribers had previously raised concerns about their electricity bills in July, reporting increases of between 33% and 42%, leading them to believe that prices had already been raised prior to the official announcement.
Prime Minister Mostafa Madbouly noted that the government is working on a 4-5 year plan to liberalize electricity prices, suggesting that minor increases would impact approximately 80% of the population.
He highlighted that the cost of generating a kilowatt-hour for the state is 223 piasters, while a portion of the population pays only 58 piasters, ensuring that the social aspect remains a priority in the energy policy, especially for low-income groups.
