Minister of Electricity Mohamed Shaker told Daily News Egypt that the government will completely abolish subsidies on electricity in 2022, with continuing cross-subsidisation at EGP 5.6bn. Consumers of 3,000 KW/h pay some EGP 1,024 on top of their bill in cross-subsidisation. He claimed that increasing the electricity tariff is unrelated to the loans from the World Bank and the International Monetary Fund, noting that the increase was based on the tariff restructuring plan penned in 2014. Shaker pointed out that average cost of electricity production is at 95.1 piasters this year. On the tariff of solar energy, Shaker said that the prices of power purchase agreement will not be changed, especially as the prices of components went down.

Source: Daily News Egypt July 08, 2017 15:22 UTC