The Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) prepared the new electricity pricing schemes that will be applied in fiscal year (FY) 2019/20 and will submit them to the cabinet by the end of May for approval, MENAFN reported, citing Daily News Egypt.

Price hikes in the new schemes will vary, based on income and consumption rates.

People consuming over 1,000 kilowatts (KW) per month will be the most affected segments of the new pricing schemes. The price increase will be used to decrease electricity prices for low-income segments with lower consumption rates, which is known as cross-subsidization.

Moreover, deciding the increase rates of the electricity prices will be affected by natural gas prices and the US dollar exchange rate.