The Electricity Ministry has denied any current increase in electricity prices, adding that increases are to be expected as of July 1, 2019, according to Electricity Ministry spokesperson Ayman Hamza. The electricity price restructuring plan aims to meet Egypt’s electricity, he said, adding that electricity subsidies would be fully cancelled in the fiscal year 2020/2021. Minister of Electricity Mohamed Shaker had announced an increase in electricity prices in July. Shaker stated that the price increase is vital to ensuring the continuation of the services. “If we do not increase current prices, then electricity subsides would reach LE 69 billion,” he said.

Source: Egypt Independent December 24, 2018 10:36 UTC