The Egyptian Electric Utility & Consumer Protection Regulatory Agency requested from the European Bank for Reconstruction and Development (EBRD) to recommend a consultant to review the organizational framework and regulations related to using the independent power producer (IPP), Al-Borsa reported. The IPP system is to generate electric power for sale to utilities and end users.

In response, EBRD has called some companies and advisories to present financial and technical proposals, estimated at Euros 465 thousand. The proposal that meets the EBRD criteria will be selected next month.

EBRD set some conditions for the selection process, requiring the applicants to have an expertise in designing electricity market, and to be knowledgeable about the economic regulation of the electricity networks, the license system, energy purchasing agreements, the regulatory and legality frames as well as the administrative and technical procedures related to the networks.

Earlier, the Ministry of Electricity had set a committee to prepare procedures and regulations related to the production and sale of renewable energy-based electricity power.