Egypt raises domestic power tiers by 12%
The Ministry of Electricity and Renewable Energy in Egypt has increased electricity prices for higher domestic consumption brackets by an average of 12%, while maintaining the price of the first consumption tier unchanged. This increase is part of the government's efforts to achieve electrical grid stability and ensure sustainable funding, as Egypt spends approximately 100 billion Egyptian pounds annually to support its electricity system, amid rising consumption and reduced government subsidies. The level of support on household bills varies depending on consumption levels; households that consume 2,000 kilowatt-hours are paying the full cost without any subsidy. Additionally, the global energy crisis and the impacts of a drone attack have led to higher fuel costs and a deterioration in energy supplies during the summer.
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