23 Jun 2021

The government has announced its planned increase in the prices of electricity for residential units. The increase will be 13% on average, varying depending on the consumption bracket. This is a lower increase than last year’s 19% average increase. The increase will affect all brackets except the top one. Due to the adverse economic effects of the Covid pandemic, the government has extended the full phasing out of electricity subsidies until FY24/25, which is a 3 year extension from the original plan. On the other hand, rates for commercial consumers have not increased. (Source: Enterprise (English), al-Maal, el-Watan, al-Masry al-Youm, Veto Gate)