Egypt boosts electricity exports to Libya after grid failure
Egypt has increased its electricity export capacity to Libya by approximately 43%, reaching 100 megawatts, in an effort to support the Libyan grid, which experienced a widespread collapse in July. This comes within the framework of efforts to strengthen cooperation between the two countries in the energy sector, including an agreement to reduce the interest rates on late penalties for the overdue Libyan payments for electricity, amounting to around $90 million, in order to accelerate settlement of the dues. This step is part of Egypt and Libya's efforts to ensure the stability of electricity supplies in Libya, which faces challenges due to weak infrastructure and high summer loads. The cooperation is part of ongoing efforts to improve Libya's energy situation and reduce outages, as the network relies on energy imports and local sources.
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