Minister of Electricity, Mohamed Shaker, announced the government’s new electricity prices set according to the gradual lifting of subsidies until July 2021, decreasing the electricity sector’s deficit from EGP 33.5 billion to EGP 16.5 billion, Egypt Oil & Gas reports

The new electricity prices in fiscal year (FY) 2019/20 will vary based on the consumer’s segment and will be applicable starting from July 2019.

For the first segment, where citizens consume from 0 to 50 KiloWatt per hour (kWh), the price will be EGP 0.3 instead of EGP 0.22 for 1 kWh. For the second segment, where users consume from 51 to 100 kWh, the price will be EGP 0.4 instead of EGP 0.3 for 1 kWh.

Meanwhile, the third segment, where people use from 101 to 200 kWh, will cost EGP 0.5 instead of EGP 0.36 for 1 kWh. For the fourth segment where consumption rate is from 201 to 350 kWh, the price will be EGP 0.82 instead of EGP 0.7 for 1 kWh.

Additionally, for the fifth segment where consumers use from 351 to 650 kWh, the price will increase from EGP 0.9 to be EGP 1 for 1 kWh. For users in the sixth segment consuming from 651 to 1000 kWh, the price will be EGP 1.4 instead of EGP 1.35 for 1 kWh. For people in the seventh segment using more than 1,000 kWh, the price will not be subsidized and it will be at EGP 1.45 for 1 kWh.

Moreover, the commercial sector’s electricity prices will change according to usage. For the first segment of users consuming from 0 to 100 kWh, the price will be EGP 0.65 instead of EGP 0.55 for 1 kWh.

For the second segment of people using from 0 to 250 kWh, the price will increase to EGP 1.15, from EGP 1 for 1 kWh. For users in the third segment consuming up to 600 kWh, the price will be EGP 1.4 instead of EGP 1.15 for 1 kWh.

Meanwhile, the price of electricity for the people using up to 1000 kWh will be EGP 1.55 instead of EGP 1.45 for 1 kWh. For the fifth segment of consumers using more than 1,000 kWh, the price will increase from EGP 1.5 to EGP 1.6 for 1 kWh.

Egypt allocated around EGP 4 billion for electricity subsidies in FY 2019/20 budget plan, compared to EGP 16 billion allocated in 2018/19, according to the financial statement of the ministry of finance for FY 2019/20.