Egypt’s Ministry of Electricity and Energy announced on Tuesday a new increase in electricity prices ranging between 17 and 26.7 percent based on consumption.
The new prices will be applied on July 1, the first day of the country’s fiscal year 2020-21.
It will raise electricity prices for homes and shops that use up to 250 KWH (kilowatt hour) per month by 4.3 percent.
“Given the current economic conditions resulting from the coronavirus outbreak and to ease the economic burdens on Egyptian citizens, the deadline for the plan to lift subsidies on electricity prices to the domestic sector has been extended to fiscal year 2024-25 instead of 2021-22,” the Ministry announced in a press statement.
The middle and lower classes in Egypt have been suffering during the past five years from a sharp hike in the prices of goods and services since the government liberalized the exchange rate in late 2016.
Over the past few years, army trucks have spread across the country to sell food products at cheap prices, which increased the police and armed forces’ sales outlets, easing hikes.
According to the statement, for those who consume between 0 and 50 KWH, the price will be 38 piasters per kilowatt instead of 30 piasters.
“From 51 to 100 KWH, the price will be 48 piasters per kilowatt instead of 40 piasters, and for consumers of between 100 and 200 KWH, the price per kilowatt will be 65 instead of 50 piasters.”
From 201 to 350 KWH, the price per kilowatt will be 96 instead of 82 piasters, and for consumers from 351 to 650 KWH, the price of kilowatt will be 128 instead of 100 piasters.
While consumers of more than 1,000 KWH, will pay the same amount, which is 145 piasters per kilowatt.
For commercial use, the Ministry decided to fix the price of those who consume up to 100 KWH per month at 65 piasters.
Consumers of up to 1,000 KWH will be charged 155 piasters, and 160 piasters for consumers of more than 1,000KWH.
