The Ministry of Petroleum agreed along with the Ministry of Electricity to sell natural gas to power plants for $3 per 1 million thermal units (mtu) in the budget plan of fiscal year (FY) 2019/20, sources at the ministry of electricity told Amwal Al Ghad.

Increasing the price of natural gas will force the Ministry of Electricity to raise the electricity prices once again after the increase announced earlier this month, the sources noted.

Minister of Electricity, Mohamed Shaker, announced the government’s new electricity prices that were 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 previously reported.