Egypt raises top residential power tiers by 12%
The Ministry of Electricity and Renewable Energy in Egypt has announced that electricity prices for consumers will see an average increase of 12%, while remaining unchanged for the first tier of household consumption. This increase comes as part of the state's efforts to ensure the sustainability of the electricity system and reduce reliance on government subsidies, with Egypt currently spending around 100 billion Egyptian pounds annually to cover the gap between production costs and consumer prices. The level of support increases with higher household consumption, as consumers pay about 25% of their bill at 50 kWh usage, rising to 88% at 700-1000 kWh, while households consuming 2000 kWh pay the full price without support. These hikes followed a 16% to 20% increase in electricity prices last April, driven by the global energy crisis, rising costs, and damages to some power generation facilities caused by a drone attack.
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