Minister of Electricity Mohamed Shaker is currently waiting for the cabinet to decide on one of the scenarios proposed to cope with the increasing financial burden on the Egyptian Electricity Holding Company (EEHC) following the flotation of the Egyptian pound. Sources at the Ministry of Electricity said that the ministry is considering reducing the proportion of using fuel oil for production, especially as it costs more than gas. The price of fuel oil amounts to EGP 2,500 per tonne, while that of 1 Billion Thermal Units (BTUs) stands at $3bn. Amongst the proposed scenarios to cope with the burden following the flotation was increasing the tariff on all consumers. Meanwhile, Shaker said that prices will, for sure, increase in the coming fiscal year, according to the electricity prices restructuring programme.

Source: Daily News Egypt January 22, 2017 10:56 UTC