Egypt’s electricity budget deficit reached EGP 21 billion, and there is no escape from the electricity prices increase of July 2019, said Mohamed Shaker, Minister of Electricity and Renewable Energy, according to Al Borsa News.
The country is still subsiding electricity prices for households with EGP 46.7 billion, of which EGP 16 billion only are available, which made the ministry increase prices for some consumer segments in order to compensate for EGP 10 billion, Shaker noted.
The minister submitted a request to the cabinet in order to open the door for violating buildings, to install pre-paid electricity meters, and to be able to apply in 12 months from opening.
Shaker’s comments came during his meeting with the Parliamentary Energy and Environment Committee on February 23rd.
