The Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker, announced the details of the new electricity prices according to consumption brackets in an official press conference.
The change in prices is studied based on certain programs as the ministry is taking into consideration the low-income citizens while it is setting the new tariffs.
Although subsidies allocated for the electricity sector in fiscal year (FY) 2016/17 reach EGP 52.7b, which include EGP 47.4b for residential consumption, the electricity sector is facing a financial deficit estimated at EGP 82.8b, sources at the Ministry of Electricity told Al Ahram Gate.
The low-income citizens, which are representing the first three residential brackets, will receive EGP 17.7b subsidies in electricity.
The first bracket, consuming from 0 kW to 50 kW, will receive EGP 1.8b, and its electricity price will rise from EGP 0.11 to EGP 0.13 per kW, reported Al Masry Al Youm.
Meanwhile, the second bracket, consuming between 51 kW and 100 kW, will receive EGP 3.1b subsidies, increasing from the current EGP 0.19 tariff to EGP 0.22 per kW.
The third bracket, consuming from 101 kW to 200 kW, will raise from EGP 0.215 to EGP 0.27 per kW. The fourth bracket, consuming between 201 kW and 350 kW, will have an increase from EGP 0.42 to EGP 0.55.
The electricity price of the fifth bracket, consuming between 251 kW and 650 kW, will increase from EGP 0.55 to EGP 0.75 per kW. The sixth bracket, consuming between 651 kW to 1000 kW, will pay EGP 1.25 instead of EGP 0.95 per kW.
Additionally, the electricity prices for industrial and investment activities will increase by 30% to 40%.
The electricity bill will also include administrative fee, supply stamp fee, broadcasting fee, governorate fees, and cleaning fee if there is any.