The Egyptian Ministry of Electricity contracted EBS International to work on separating the Egyptian Electricity Transmission Company (EETC) to operate independently from the Egyptian Electricity Holding Company, reported Al Borsa.
The Minister of Electricity, Mohamed Shaker, stated that according to the new electricity Law 87/2015, an independent transmission system operator (TSO) will take charge of EETC, informed Al Mal News.
It is noted that Egypt issued article 87/2015 in July 2015, stating the necessity to separate ETTC from the Egyptian Electricity Company. This was taken as a measure to ensure investors that the ministry of electricity will not favor energy purchasing agreements with companies owned or operated by the state. The law also stipulates that EETC must make its network available to independent power produces.
This comes as Egypt moves forward in diversifying it’s power portfolio. Egypt Oil&Gas reported that the country’s State Council had ratified the final draft for Egypt’s first nuclear power plant in Al Dabaa, in association with Russian state nuclear energy corporation, Rosatom. The plant would have a 4800MW power production capacity and cost an estimated $25b via Russian loans over 13 years.